The deal was finalised earlier today at the famous Central London Register Office, which has seen stars, including Hollywood actors and former Beatles, tie the knot, to mark a ‘civil partnership’ of a different kind for the famous venue.
Under the agreement, London Business School will spend over £50 million in the fit-out and restoration of the Grade II listed building to its former glory, whilst creating a modern learning environment within its historic premises.
The building will become an integral part of London Business School’s campus, creating a triangle of educational facilities between Sussex Place, the Taunton Centre and Old Marylebone Town Hall.
Professor Sir Andrew Likierman, Dean of London Business School, said:
“The acquisition of Old Marylebone Town Hall gives us a terrific opportunity to enhance the campus experience for our students and to provide for future expansion. Our intention is to transform the magnificent Town Hall into a world-class teaching facility whilst being sensitive to the original architectural design of the landmark building. In addition to a 200-seat and several 100-seat lecture theatres with associated seminar rooms, it is planned to include study, social and dining facilities as well as more offices. It will become an integral part of the School's Regent’s Park campus.”
Old Marylebone Town Hall has for many decades been one of the most popular venues in London for weddings and civil partnerships. Couples will be able to book their weddings at the restored venue after the programme of works is completed, when ceremonial and community functions, including council meetings return to the building in 2016.
A dedicated area will also be provided for the council meetings.
Cllr Jonathan Glanz, Westminster Council’s Cabinet Member for Housing and Property, said:
“In tough economic times, it is more important than ever for councils to make best use of their property assets. This agreement will not only generate an income for the council, but it will also see the multi-million pound restoration of the famous building. I am delighted that we have partnered with London Business School and to see the historic building enter a new chapter as a modern educational facility.”
The school is targeting submitting a planning application for the renovation works before the end of the year.