The 60-metre observation wheel on Gateshead Quays will be leaving this week, dashing hopes it would be part of the Tyneside skyline until the New Year.
Hundreds of thousands of people have visited the structure, which has been dubbed the Gateshead Eye.
Gateshead Council wanted to keep the wheel in place over the Christmas holidays, but it has recently been bought, and the new owner wants to move it.
Work to dismantle the wheel began yesterday.
Councillor John McElroy, cabinet member for culture, said: "The Gateshead Eye has been a great attraction and had a very successful stay on Gateshead Quays.
"It proved a very valuable attraction which gave a great new view of the quaysides, especially when the Tall Ships were here.
"It would have been nice to keep it until Christmas, but unfortunately the final decision was not in our hands."
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