Nine in race to build 2,500 new Olympic homes

Grant Prior 12 years ago

The race is hotting-up to takeover the management of more than 1,400 private homes after the Games at the Olympic Village and the possible development of up to 2,500 new homes on the Stratford site post 2012.

The Olympic Village, which lies adjacent to the Olympic Park, will deliver the legacy of 2,818 new homes for east London after the Games.

Triathlon Homes has purchased 1,379 of the new homes to become legacy affordable housing.

The Olympic Delivery Authority owns the remaining 1,439 homes which will become private housing after the Games,together with six future development plots in the Village site with the potential for a further 2,000–2,500 new homes.

In October the ODA invited expressions of interest from the private sector to acquire the ODA’s interests in the Village, covering both the new homes being built and the future development plots.

Following competitive submissions from across the UK, mainland Europe, North America and Asia, the shortlist of private sector organisations and consortia that will now be invited to submit detailed proposals for the Village are:

Delancey & Qatari Diar

Dorrington & Pinnacle Capital

Galliard Homes

Grainger plc & Moorfield Group

Hutchison Whampoa Limited

Le Frak Organization, Aviva plc & J.P. Morgan

London & Stamford Property plc, David Wilson & Sir Robert McAlpine

Wellcome Trust

The William Pears Group & Urban Splash

ODA Chief Executive David Higgins said: “The quality of this shortlist is a vote of confidence in the quality of the Olympic Village.

“Securing a shortlist with many of the leading property investors and managers both in the UK and around the world takes us an important step towards ensuring the Village becomes one of the strongest legacies from the Games.

“Securing best value will be key alongside looking for the best legacy owner for the Village. Shortlisted bidders will need to demonstrate the experience and expertise needed to realise the long-term potential of the Village, establishing a complete neighbourhood with the best of city living all in one place, offering choices for all.”

The shortlisted parties will now be sent detailed tender information in January 2011, allowing them to submit formal offers and proposals on the Village in Spring 2011.

Once full proposals have been received, a decision on whether to proceed to the final bid stage with a selected party is expected to be made in Summer 2011.

Any proposal would have to be approved by Government and demonstrate value for money returns against the public investment made in the Village.

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