Huge concert news for Australian ABBA fans

It's a beautiful day to be an ABBA fan living in Australia, with a new report suggesting the Swedish supergroup's virtual concert spectacular is coming to Melbourne.

According to The Age, ABBA Voyage is close to signing a deal that would see a permanent arena built at Flemington Racecourse to house ABBA's 90-minute 3D musical experience.

If it eventuates, it would mean Melbourne would be the second city in the world to stage ABBA Voyage.

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ABBA's 3D virtual concert experience, ABBA Voyage, is reportedly coming to Melbourne. (Dave J Hogan/Getty Images)

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According to the publication, Michael Bolingbroke - who is the chief executive officer and executive producer of ABBA Voyage - left the show's London headquarters in late April to visit Melbourne, where he's understood to have met with officials from Visit Victoria and the state government, as well as music promoters.

A previous meeting in December is also understood to have occurred about the reported deal.

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Multiple sources told the newspaper that a deal was close to being signed, with an official announcement suspected to be made "within weeks".

It's understood the cost of ABBA Voyage could be anywhere from $60 million to $100 million, with the arena and stage technology that was created with the assistance of the company behind Star Wars' special effects needing to be built.

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It comes as the group marks 50 years since their Eurovision win in 1974. (Instagram)

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Flemington Racecourse, which is accessible by train, is the preferred venue.

It comes as the 50th anniversary of ABBA's 1974 Eurovision win approaches, with the song contest taking place in Sweden this week to honour the group.

ABBA, however, has reportedly declined to perform at the contest this year.

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