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Millennium Dome: Sale

Volume 622: debated on Thursday 15 February 2001

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asked Her Majesty's Government:Whether a decision has been reached on Legacy plc's preferred bidder status in the sale of the Dome. [HL818]

Legacy's preferred bidder status gave them exclusive negotiating rights up to 14 February. While their bid has made progress towards meeting the preferred bidder terms, they have not met them. Legacy's exclusivity has therefore expired and the Government have decided to terminate the existing competition.During the period of Legacy's preferred bidder status, the Government have not sought any alternative proposals for the Dome. The Government would now like openly to test the market and will therefore ask English Partnerships to invite any interested parties to lodge with it expressions of interest for the Dome and the regeneration of the peninsula. The Government, like the Mayor of London and the London Borough of Greenwich, believe the Dome should be retained as part of the regenerated peninsula, and offers will be invited on this basis. There have been considerable expressions of interest from other parties which have been logged by English Partnerships.Within this framework, Legacy will of course be able to put forward its proposals, which will be fully considered on merit alongside others.Expressions of interest will be assessed by an advisory team, which will report to English Partnerships, who will shortly publish details of the arrangements and rules for this process.