§ Lord Rotherwickasked Her Majesty's Government:
Whether they are engaged in negotiations with a potential purchaser for the Millennium Dome: and, if so, what is the current progress of negotiations. [HL441]
§ Lord RookerFurther to my Written Statement on 21 June, (Official Report, col. WS42), the commercial deal for the sale of the Dome and development of much of the Greenwich peninsula became unconditional between English Partnerships, the Government's national regeneration agency, Merdian Delta Limited and Anschutz Entertainment Group on 18 June 2004.
Under the agreement. Meridian Delta Ltd and Anschutz Entertainment Group are committed to investing up to £200 million and building a 26,000 capacity multi-purpose arena in the Dome. Anschutz Entertainment Group intends that over 200 events will be hosted each year, including concerts and major sporting events. Work on the arena is due to start in 9WA spring 2005 and is expected to be completed in spring 2007. Start of work on the housing and other facilities is expected in late 2005 or early 2006.
Millennium Square, which has now received planning permission, will be completed within the same timescale, and the residential development will be well under-way by the time the new arena opens for business in 2007.