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Plans drawn up by developer Almacantar and architect AHMM for a 拢400m redevelopment of Lord鈥檚 cricket ground 拢400 have been abandoned.

The enabling scheme for four residential towers on land behind the ground鈥檚 iconic media stand was rejected by the Marylebone Cricket Club鈥檚 (MCC) committee.

The proposal involved luxury apartments bankrolling improvements to the ground and its five stands.

But the MCC said that instead, it would redevelop the ground in St John鈥檚 Wood stand by stand, using only its own freehold land.

Oliver Stocken, MCC chairman, said: 鈥淪ince the process of looking at the long-term development began some years ago, the club has always prioritised the fundamental objective of maintaining and enhancing the reputation of Lord鈥檚 as the pre-eminent cricket ground in the world and the global home of cricket.

鈥淭he club also made it clear that the Vision for Lord鈥檚 project was subject to both the financial viability of the proposed development as a whole and reaching an agreement with the England and Wales Cricket Board (ECB) on the number of major matches to be played at Lord鈥檚 in the coming years.

鈥滵uring this period, the economic climate has changed substantially.

鈥淗owever, the club was awarded the platinum package of major matches by the ECB in September 2011, and that has provided the committee with the confidence to fund a redevelopment scheme on the club鈥檚 freehold land, on its own.

鈥淢CC would like to thank Almacantar, the property developer with whom we have been working over the last few months, for their work in presenting possible development options to the club.

鈥漊ltimately, the committee agreed on the way forward for the long-term redevelopment of Lord鈥檚, probably beginning at the Pavilion End with the rebuilding and enhancement of the Tavern and Allen stands, which will provide significantly improved amenities.鈥�

The redevelopment plans have a turbulent history which has seen AHMM replace the previous architect Herzog & de Meuron and two key MCC staff resign.