The Government has denied reports that it is going to give Meridian Delta a £200m ‘sweetener’ for taking the Dome off its hands.
Lord Falconer, minister responsible for the Greenwich Peninsula white elephant, denied that the government had agreed to build a £200m road bridge or tunnel linking the south Thames-bank sites to the north side of the river.
He said there was “considerable debate” about an additional crossing but “no question of any commitment or sweetener in course of the deal”.
Falconer has said that he will make a detailed announcement on the deal once it is finalised between the Government and Meridian Delta, a consortium made up of Quintain Estates, Lend Lease and entertainment giant Anschutz.
The Government has already been criticised for “giving the Dome away”, as the terms of the deal with Meridian Delta state that the government will not get any money from the agreement.
Instead, the Treasury will take a cut of the profits following the development of the site.
The government, which has already spent over £800m of public money on the Dome, is expected to receive around £500m over the 20-year lifespan of the project.
The consortium plans to convert the Dome into 20,000-seat sports and live entertainment arena, surrounded by offices and homes, including low-cost housing.
EGi News 27/05/02
