The O2 put up for sale

Entertainment venue the O2 is up for sale, the building’s owner said.

Entertainment venue the O2 is up for sale, the building’s owner said.

The lease on the former Millennium Dome is being marketed by Meridian Delta Limited (MDL), a joint venture between UK firm Quintain and Australian company Lend Lease.

An MDL spokeswoman said last night: “MDL, a joint venture between Lend Lease and Quintain, owns a 999-year lease on the Dome and has granted a 55-year lease to AEG, who created The O2.

“It is MDL’s long lease that is being marketed, which includes the £1.5m (€1.7m) rental income from AEG for The O2.

“Any sale of the MDL lease will not affect The O2, which became the most successful venue in the world within its first year of operation and continues to draw major names such as Razorlight, Metallica and Madonna.”

She would not reveal how much the lease is expected to sell for.

A spokeswoman for Savills confirmed it has been appointed to handle the sale but would not say how much the lease could be worth.

According to the Daily Telegraph, the price tag is around £35m (€40m).

The Millennium Dome was closed in 2000 after failing to draw in a forecast 12 million visitors and costing around £800m (€922m) in state funds.

A deal was drawn up where the site would be leased to MDL, but ultimately remain in public ownership.

It was part of a wider redevelopment plan for the Greenwich peninsular with Government agency English Partnerships.

The dome was re-opened as the O2 in 2007 and has now become the most popular music venue in the country, according to AEG.

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