The MCC has received planning permission from Westminster City Council to rebuild the Warner Stand at Lord's.
The new stand will replace the current Warner Stand, which was built in 1958, and is the first major phase of development in the 15-year Masterplan for Lord's, which was unveiled in May.
Improved sightlines, circulation and a state-of-the-art match control and match officials' facility will be the major benefits of the new stand.
An innovative design includes a semi-translucent fabric cover supported by an oak-beamed roof structure - the first of its kind in the country.
It will also include a 135-seat restaurant with views over the ground and significantly improve accessibility with four per cent of seats available to disabled spectators.
"I am delighted that Westminster City Council has granted planning permission for what will be a wonderful new addition to Lord’s," MCC Chief Executive and Secretary Derek Brewer said.
"MCC wants Lord’s to be the world’s finest cricket ground, and this new stand combines the best in architecture with world-class facilities to help achieve that.
"Lord’s celebrates its 200th birthday this year, and we have a duty to ensure any changes made to the Ground will stand the test of time and bring long-term benefits.
"It is incumbent on MCC to host the best possible matches at Lord’s – for the Club’s Members and other spectators who want to see the finest players at the Ground, and for the associated benefits to the economy and status of St John’s Wood and Westminster.
"MCC has a strong commitment to consultation with our local community and the scale of our engagement with them – together with the Club’s Members – will continue to increase as the process moves forward.
"Many months of work by an excellent team has developed plans for a stand which will grace Lord’s for many years to come."
Subject to approval from the MCC Members, construction will begin in 2015.
© Cricket World 2014