MEX Peninsula Site Purchase

It has been announced that English Partnerships, a Government agency which has responsibility for encouraging urban regeneration, has reached agreement over the purchase, for £20 million, of the entire 294 acre British Gas site on the Greenwich Peninsula after completion of the Millennium Exhibition. This includes the 130 acres which will form the Exhibition site itself. British Gas will receive 7.5% of future sales receipts as and when the site is sold on.

Barry Hartop, previous Chief Executive of Millennium Central, the Exhibition operating company, said that the deal was good news for the Project as “single ownership of the site makes negotiations and construction easier and will allow us to proceed according to schedule”.

Source: News Shopper, 30/11/96


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