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Government gives away Millennium Dome

Peter Woodman,Pa News
Wednesday 29 May 2002 00:00 BST
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The Government gave away the Millennium Dome and the surrounding land for free today in the hope of getting £550 million back over the next 20 years.

Dome minister Lord Falconer confirmed that the Meridian Delta consortium was taking over the troubled Greenwich, south London, attraction.

The deal will involve Meridian's entertainment arm AEG spending £135 million turning the Dome into a 20,000–seat top entertainment and sporting venue.

The rest of the site would be developed by Meridian and would create tens of thousands of jobs and up to 7,000 new homes, Lord Falconer told the House of Lords

He said "no specific price" was being paid but that Government regeneration agency English Partnerships which currently owns the Greenwich site, could be entitled to a share of future profits.

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