Hansard

Millennium Dome Site: Legacy Plc Offer

Volume 620: debated on Monday 15 January 2001

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Baroness Anelay of St Johns

asked Her Majesty's Government:With reference to the offer made by Legacy plc to purchase the Millennium Dome site:

  • (a) what is the total value of the offer;
  • (b) what sum will be paid in cash if, and when, contracts of sale are signed;
  • (c) whether any sum or sums will be payable in cash subsequent to the signing of contracts, and, if so, at what date or dates or upon what event or events will such a sum or sums be payable;
  • (d) whether any part of the offer made by Legacy plc is dependent upon the granting of planning permission, and, if so, which part or parts of the Legacy plc offer are subject to such grants of planning permission; and
  • (e) whether the total value of the offer includes a sum payable as ground rent; and, if so, whether such a sum will be in lieu of any capital sum. [HL217]

    • The Minister of State, Cabinet Office
    (Lord Falconer of Thoroton)

    Details of the proposed overall financial consideration for the sale of the Dome to Legacy plc are commercially confidential. The Government hope to be in a position to exchange contracts in February 2001. Legacy plc is in close discussion with the local planning authority, Greenwich Council, regarding their proposal.

    Baroness Anelay of St Johns

    asked Her Majesty's Government:Further to the Written Answer by Lord Burlison on 4 March 1999 (

    WA 193), whether the offer made by Legacy plc for the purchase of the Dome site will generate receipts for the Treasury which will at least match those which could have been achieved if the site of the dome were clear and disposed of for ordinary commercial development. [HL218]

    Lord Falconer of Thoroton

    Taking account of the costs which would be incurred in demolishing the dome, the advice provided by the competition team is that the Legacy proposal provides as good as value for money as any other option, including those involving dismantling it. An announcement on the division of proceeds between the New Millennium Experience company, owners of the Dome, and English Partnership's, owners of the site, will be made in due course.