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Cambridge college in O2 arena lease talks
Trinity College - part of the University of Cambridge - is reportedly in talks with Meridian Delta Dome Limited (MDDL) over the acquisition of the land lease for the O2 arena site in Greenwich, East London.
According to the Sunday Times newspaper, the institution has been in negotiations over the possibility of taking on the site's lease from Quintain Estates and Lend Lease, the two property firms behind the MDDL joint venture. In its interim management statement for the first quarter of 2009, Quintain Estates - which has a 49 per cent stake in the site - revealed that "exclusive negotiations continue with a preferred bidder for the disposal of the group's interest".
The sale of the O2 arena's land lease was first mooted in February, although any deal will not affect AEG Europe's status as the owner and operator of the venue - formerly known as the Millennium Dome. At the time, a spokesperson for AEG Europe said: "Meridian Delta Dome Ltd is the landlord of the site in which the arena sits, not the owner of The O2 arena. MDDL are seeking to find a purchaser for their interest which effectively means that on sale AEG will simply pay its ground rent to a different company."
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