A new addition to the North-east skyline has been made red-hot favourite to become one of Europe's elite architectural structures.

The £17.7m Gateshead Millennium Bridge is the bookies' 2-1 favourite to clinch the Royal Institute of British Architects prestigious Stirling Prize ahead of six other projects across England, Scotland, Ireland and Germany.

The pedestrian bridge, which spans the River Tyne between Newcastle and Gateshead, in the shadow of the historic Tyne Bridge, opens in a pivotal movement, likened to the blinking of an eye to allow ships to pass underneath.

Since opening last September it has attracted worldwide publicity, picked up international awards and was visited by the Queen as part of her Jubilee Tour this summer.

Leading bookmaker William Hill is offering odds of 2-1 that the Tyneside bridge scoops the award ahead of the Weald and Downland Open Air Museum, in Chichester, which is being offered at 7-2.

The five other shortlisted projects are the Dance Base, Grassmarket, in the shadow of Edinburgh Castle, Ernsting's Service Centre, Coesfeld-Lette, Germany, Hampden Gurney Church of England Primary School in London, Lloyds Register of Shipping, Fenchurch Street, London and the Millennium Wing, National Gallery of Ireland, Dublin.

A £20,000 prize will go to the architects of the winning building, deemed to have made the greatest contribution to British architecture in the past year.

Judges will visit all seven sites and the winner will be announced during a Channel 4 televised ceremony at the Baltic Centre for Contemporary Art, in gateshead, at 8pm, on Sunday October 13.