The Government has announced that it will retain the freehold of The Queen Elizabeth II Conference Centre in Westminster and explore private sector management for the venue.
According to a statement, the Department for Communities and Local Government will “retain its freehold interest in the building in line with current Government Property Unit policy to retain freeholds in the Whitehall area”.
The building will remain as a conference centre, but the government will be undertaking research to explore all the viable options for the future of the centre. It will then decide whether the conference business should continue under the existing arrangements or be marketed to the private sector.
There are three options being investigated - a short-term operating contract, a medium-term lease and a longer-term lease.
The Queen Elizabeth II Conference Centre currently delivers an annual net surplus from trading in excess of £2m.
Pictured: The QEIICC