The Duke of Westminster’s Grosvenor Estate and Stanhope have pulled out of a consortium tipped to acquire the Millennium Dome.
The withdrawal, driven by the economic downturn, has placed doubts over how much money the sale will now raise for the Government.
The Wellcome Trust, a charity which wishes to turn the Dome into a biomedical research centre, is thought to be the favoured bidder now.
Grosvenor and Stanhope had joined Quintain Estates and Lend Lease to bid to develop a theme park. Quintain and Lend Lease intend to press ahead with the scheme.
Financial Times 03/11/01 page 1
