Points to ponder before entering

6:10pm Wednesday 25th April 2007

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WEEK two of the LMO Great Hall competition brings a reminder that whatever it is used should be a good financial proposition.

As the rules say, the business that takes over the hall must be a good neighbour to other tenants in the LMO and the surrounding community and must add to the culture and vitality of the area, as well as contributing to the 2012 Olympic legacy.

Some of the ideas suggested are that it becomes a performance space, an independent cinema, an art gallery or exhibition space, social space for event like like wedding receptions, a creche or an Olympics-related exhibition venue.

And no doubt entrants will come up with other proposals.

But however good the idea, it will not win the support of the judges unless it can be proved that it will pay for itself and make a profit over the next ten years.

"We will not necessarily go for the scheme with the highest bidder," said Mr Polledri. "But the winning scheme must make business sense.

"There is no point in a good idea if it will fail in six months or six years. We must be able to look back after ten years and be able to say that we have provided a going concern for the community and the tenant."