Latest News
Alexandra Palace Redevelopment Team Names Preferred Bidder
London, 31 January 2006: The Trustees of Alexandra Palace have named Firoka (Heythrop Park) Ltd as the preferred investment partner for the redevelopment of the historic London landmark.
A meeting of the Board of Trustees of the Alexandra Park and Palace Charitable Trust, held last night, approved a report from the professional team recommending that Firoka be appointed preferred bidder and that exclusive negotiations begin as soon as practicable with a view to agreeing lease terms.
Firoka was one of two shortlisted bidders still in the running after a first round evaluation in November last year whittled down the original thirteen expressions of interest.
The chair of the board of trustees, councillor Dr Vivienne Manheim, said: ‘The priority for the Trust has always been to secure the future of the Palace for Londoners and to remove the financial risk from the local authority – I am delighted this looks likely to be the outcome and look forward to fruitful negotiations beginning as soon as possible.’
Alexandra Palace general manager Keith Holder said: ‘The plans of both bidders were a positive opportunity to restore the Palace building and its place in the hearts of the local community – I would like to thank them both for the care and effort they put in to the competition and am delighted we are close to securing the future of the Palace.’
Firoka’s Firoz Kassam, said: ‘We are delighted to have been selected as preferred bidder – this is a major undertaking and we are looking forward to working with the trustees of the charity and the local community. We will be making further press statements in due course.’
The appointment of a preferred bidder is the latest step in a redevelopment strategy launched early in 2005 with the aim of securing the future of the Palace for future generations of Londoners.
This strategy led to the announcement of a specialist group of advisers in March 2005, and to the launch of a marketing campaign in September 2005 aimed at businesses in sectors similar to the Palace’s existing operations. A process of consulting the local community on the details of the proposals took place at the turn of the year.
Firoka (Heythrop Park) Ltd submitted a plan for a mixed-use exhibition, leisure and entertainment development to improve current facilities and add new compatible entertainment and leisure uses. These include:
Retaining existing exhibition space and creating new facilities by refurbishing the major halls
Seeking to create a hospitality venue through the addition of a hotel, restaurants and bars
Providing a leisure facility for community use, including an ice rink, indoor bowling, cinema, health and fitness club, children's entertainment and crèche facilities, as well as a heritage museum
A commitment to supporting the works on the Willis Organ, the restoration of the theatre and associated stage for potential public use.
Retention of the annual fireworks display.
- ENDS -
Notes to editors:
- Before the building can be transferred to the preferred bidder, an order under section 36 of the Charities Act will be required, as well as the satisfactory conclusion of negotiations on the basis of the draft heads of terms included within the preferred partner’s detailed proposal. It is therefore expected that a special board meeting will be required towards the end of February 2006, at which these matters can be progressed.
- Alexandra Palace opened in 1873 as a recreation centre and visitor attraction. It was destroyed by fire two weeks later but was rebuilt within two years. An Act of Parliament in 1900 created the Alexandra Palace and Park Charitable Trust, the body that owns it to this day.
- The London Borough of Haringey took over administration of Alexandra Palace and Park Trust in 1980. The same year a second fire damaged parts of the site. Despite being partially derelict, the site and park remain popular visitor attractions and the location for a range of music and live events, trade and consumer exhibitions. Other attractions on the site include an ice rink, a classic theatre and a fully licensed pub – The Phoenix.
- Alexandra Palace sits within 196 acres of parkland and can be easily reached by both public and private transport. The building has a gross external area in the region of 7.5 acres on the ground floor plus space on additional floors.
- The current redevelopment plan has been made possible by a Statutory Instrument in 2004 that enables the Trustees to offer a 125-year lease in part, parts of whole to external investment partners acting in accordance with the Trustees’ commitment to ensuring continued public access to Alexandra Palace.
Interviews and pictures are available on request
