Author: Great Britain: Parliament: House of Commons: Committee of Public AccountsPublisher: The Stationery Office
ISBN: 0215025741
Category : Architecture
Languages : en
Pages : 36
Book Description
The first competition (1999-2001) to find a future use for the Millennium Dome, failed to find a buyer able to complete the deal on acceptable terms. (This initial competition was for the Dome itself, without additional land.) The second sale process (2001-2004) led to a deal with Meridian Delta Ltd and the Anschutz Entertainment Group for the development over 20 years of the whole northern Greenwich Peninsula (over 100 acres), including reuse of the Dome. It preserves the Dome in place until 2018, housing a large indoor arena and leisure complex, and provides for a major office development and some 10,000 new homes on the adjacent land. The Committee criticizes English Partnerships for not making a clear, open offer of all the land that was available at the outset of the second competition. It is suggested that the value for money aspects of the deal have not been fully analysed, and that the public sector should consider taking a royalty, or a percentage of gross takings, instead of profit sharing. English Partnerships should ensure it takes a proactive part in this joint venture.