BusinessCompany NewsDome given away to PPP group

Dome given away to PPP group

The government has failed to sell the Dome outright, instead giving it away in the hope of sharing future profits, it was announced last night.

In an embarrassing finale to the doomed project, Lord Falconer said Meridian Delta, a consortium including Lend lease, Quintain Estates and US giant Anschutz Entertainment Group, had entered into a 25-year public-private partnership with English Partnerships to run the site as a sports and entertainment complex.

But the consortium has not handed over a single penny for a 999-year lease – the Greenwich site could return to the state in time for the next millennium – despite it including not only the Dome itself but also 150 acres of surrounding land.

The news came as KPMG was officially appointed to liquidate the New Millennium Experience Company, the company responsible for the ill-fated attraction.

At the same time, the National Audit Office confirmed it would be investigating the sale of the Dome, though it said it was too early to say when its findings would be published.

Links

Dome man in bid for Railtrack

KPMG set to wind up Dome

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