Lord’s land to go on sale at £500 a time as cricket fans get chance to own part of historic ground

Cricket fans are being given the chance to buy a slice of Lord’s for £500 after a property developer conceded defeat in his plans to build luxury flats there.

The scheme to own a part of the Home of Cricket was launched on Wednesday and is for land above the disused train tunnels which stretch the length of the Nursery End of the ground.

Charles Rifkind owns the lease and has long wanted to develop that section of the site but has now teamed up with a recently created property company, New Commonwealth, to sell the space.

Rifkind Associates had hoped to build two residential blocks at the Nursery End of the St John’s Wood site, after he bought a 999-year lease on the railway lines — which measure 200m by 38m — from Railtrack for £2.35million at auction in 1999.

That proposal, which would have come with a payment to MCC, divided the club and was eventually rejected last September, leading Rifkind to come up with a new proposal. Should the land ever be redeveloped, backers — or, more likely, their great-grandchildren — would get a share of any future profits. However, the lease runs to 2137, meaning no commercial development can take place until then.

The proposal could antagonise some of the MCC’s 18,000-strong membership although they are likely to be offered discounted rates if they want to buy a piece of the land.

Former England captain David Gower was a long-time advocate of Rifkind’s plans and backs today’s proposal.

“Some of my fondest memories are from playing in this ground, so I’m delighted that people from across the world will be able to join me and purchase their own piece of this historic and iconic ground,” he said.

Viv Richards, Clive Lloyd, Allan Lamb and Keith Bradshaw, the former MCC chief executive, are also pledging their support on what is undoubtedly a long-term property project.

Guy Lavender, the chief executive and secretary of MCC, suggested that Network Rail would need to decide whether the project is feasible.

“The strip of land at the end of the Nursery Ground will cease to be part of Lord’s when MCC’s lease on the top 18 inches expires in 2137,” said Lavender.

“MCC owns the leasehold on the strip of land for the next 119 years, so no commercial development will be possible on the land until 2137. As to whether the proposal is a workable proposition, that is a matter for Network Rail [the owner of the freehold of the tunnels] and individual investors.”