Olympic Village Sale Nears Completion
The government is in talks with a consortium over the sale of the Athletes’ Village in East London following the 2012 Olympic Games.
Delancey & Qatari Diar is looking to purchase, and manage, 1,400 homes and six development plots in the area.
The Olympic Delivery Authority said: ‘Commercial discussions on the Olympic Village are in the final stages and an announcement will be made shortly’.
There are 2,800 homes built on the Olympic Village site, with half sold to provide affordable housing after the 2012 Olympics.
Earlier this year, three organizations were shortlisted to submit best and final offers for the remaining homes in the Village and six development plots – Delancey & Qatari Diar, Hutchison Whampoa Limited and Wellcome Trust.
A spokesperson for the Department for Culture, Media and Sport has since revealed that they are now in exclusive talks with the Delancey & Qatari Diar consortium.
The spokesperson added: ‘Ministers and the mayor have agreed that Olympic Delivery Authority (ODA) should conclude the sale of the Olympic Village’.
‘This rules out holding a new competition for a wholesale deal for the Village and the OPLC Olympic Park assets together’.
Once the Games are over the Village will be transformed into a new neighbourhood – offering high-quality new homes, many of them affordable, as well as education and healthcare facilities, new parklands and public squares.
