MCC seeks development partner for Lord's Cricket Ground
15 Apr, 2010, London
Global real estate adviser Cushman & Wakefield has announced today that it has been appointed by Marylebone Cricket Club (MCC) to handle the world wide search for a development partner to deliver a new premium residential development and ancillary works at Lord’s Cricket Ground in St John’s Wood, London NW8.
Register interest at www.visionforlords.com
MCC is seeking a company with expertise in prime residential development, comparable experience of partnerships or working closely with organisations similar to MCC and a demonstrable track record in securing planning consents. Bidders from beyond the UK are actively welcomed as MCC seeks to select the best partner from around the world. Cushman & Wakefield intends to shortlist prospective development partners for MCC in the summer with the final selection targeted for completion by September 2010.
The development, along the eastern side of the ground on Wellington Road, is expected to substantially fund the first phase of the MCC’s multi million pound 'Vision for Lord’s', which was unveiled in late 2009.
Robert Griffiths QC, Chairman of the MCC’s development committee said today: “Our decision to seek a development partner has resulted from a strategic decision by MCC to seek expertise in residential development to ensure that we maximise the opportunity we have along the Wellington Road. The response we have had to the launch of the Vision for Lords has already generated considerable interest both here and overseas. The procurement process will have at its core the Club’s fundamental objective of maintaining and enhancing the reputation of Lord’s as the pre-eminent cricket ground in the world and the global ‘home of cricket’ ”.
Alistair Parker from Cushman & Wakefield said today: “St John’s Wood, London NW8 is one of the capital’s finest residential addresses. This is a unique and exciting commercial opportunity to develop new high quality homes alongside Lord’s cricket ground, within 15 minutes walk of London’s West End. We are looking for development partners with a first class track record who understand the nature of this opportunity and are used to working with landowners like the MCC, whose primary role is not development, but running a major sporting or cultural operation of international standing.”
MCC’s vision for the redevelopment of Lord’s Cricket Ground is based on a masterplan for the 16 acre site by world renowned architects Herzog & de Meuron. The masterplan includes an increase in seating for spectators from 28,500 to around 37,000 by redeveloping five of the existing stands around the main square. A new cricket academy, Lord’s museum and library are all proposed along with shops and exhibition space. The playing area of the Nursery Ground will also be increased by 20 per cent, so that competitive games can be played, and will be served with a new pavilion, dressing rooms, bar and score box.
Subject to achieving planning permission, the aim is to start work on site after the Olympic and Paralympic Games in 2012, when Lord’s will host the archery competition.
For further information on the development partner process, please contact:
Cushman & Wakefield
Tel: + 44 (0)20 7152 5006 / +44 (0)7793 808 006
For further information on MCC and Lord’s please contact:
London Communications Agency
Robert Gordon Clark on 020 7612 8482/07973 148238 firstname.lastname@example.org
Chris Madel on 020 7612 8489/07881 788562 email@example.com