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A city council will take control of a 19th-Century Grade II-listed building after the charity which previously ran the building struggled with its cost.
Neville Hall was built in 1869 and served as headquarters of the North of England Institute of Mining and Mechanical Engineers.
Newcastle City Council's cabinet approved a recommendation to take ownership of the building, with North East Museums to use it as a venue for special events including weddings and performances in the hopes of making it self-sustaining.
It was previously run by charity The Common Room, which saw the building undergo an £8.9m restoration, but the council said it was no longer generating enough income to survive.
Liberal Democrat cabinet member for culture, communities and youth services Councillor Rob Austin said: "I look forward to the next chapter of this beautiful building's development."
North East Museums, which also manages Tyne & Wear Archives, will oversee the mining engineering archive in the building, which includes early safety and technical reports into the coal industry and mechanical engineering.
It is expected to take over in autumn this year.
Austin called it a "magnificent building" and a "real architectural gem with an internationally important collection of mining artefacts".
"It is important for the heritage of our region that the building and collection are safeguarded for the future," he said.
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