Nottingham City Council has agreed to grant a new 5-year lease for premises under the arches of Lady Bay Bridge.
In a decision document published on 26 January, the authority states that the lease will be granted to MockRock Limited.
The document adds that the space is currently being underutilised by Youth Services who intend to vacate their services to other sites.
The bridge has been owned by Nottingham City Council since 1997, but the structure is maintained by Nottinghamshire County Council as part of an agreement with the Bridges and Structures team.
Access will be reserved for maintenance etc. in the new lease, and the Bridges team have confirmed that the proposed use does not appear to pose a risk to the operation of the bridge.
MockRock manufactures hand-holds for artificial climbing walls and intends to move their whole operation to the premises.
They also intend to create and run a Bouldering centre (low level rock climbing) from the premises that will be open to the public.
An existing climbing wall will also be refurbished and used.