Three shortlisted to buy and manage Olympic Village

The Olympic Delivery Authority (ODA) has shortlisted three private sector organisations to submit best and final offers for the purchase and long-term management of the Olympic Village.

The Olympic Village will deliver the legacy of 2,818 new homes, including 1,379 new homes bought by Triathlon Homes to become legacy affordable housing. The Village, which lies adjacent to the Olympic Park, will create a neighbourhood for east London with high-quality new homes together with education and healthcare facilities, new parklands, public squares and open spaces in one of the best connected parts of the capital.

The ODA owns 1,439 homes which will become private housing, along with six future development plots in the Village with the potential for a further 2,000 new homes. The ODA invited expressions of interest from the private sector to acquire the ODA’s interests in the Village and is looking to secure best-value together with a long-term commitment from an investor to realise the full potential of the new homes and future development opportunities across the Village site.

Following competitive submissions from across the UK, mainland Europe, North America and Asia, selected private sector organisations were invited to submit detailed proposals for the Village earlier this year. A shortlist of three organisations have now been selected to submit best and final offers: Delancey & Qatari Diar, Hutchison Whampoa Limited and Wellcome Trust.

 ODA chief executive Dennis Hone said: "The quality of the three shortlisted parties is a vote of confidence in the Olympic Village, demonstrating both UK and international interest in first-class British property.

"The Village will deliver the best of city living all in one place with high-quality new homes joined by education and healthcare facilities, new parklands, public squares and open space. Securing best value and the best legacy owner for the Village will be key."

Olympics Minister Hugh Robertson said: "The number and quality of consortia bidding to take over the Olympic Village proves the extraordinary level of interest in London 2012’s legacy."

Dale Meredith, executive director, Triathlon Homes: "The integration of the private and affordable homes alongside a comprehensive range of first class facilities, all set in extensive green open space is a perfect illustration of how to create a vibrant modern and sustainable community. We look forward to working with the owner of the private homes to realise this vision together."

A final decision on the buyer for the Village is expected to be made in the summer. Any proposal would have to be approved by Government and demonstrate value for money returns against the public investment made in the Village.

The development opportunity for the three shortlisted organisations and consortiums in the

Olympic Village includes:

 New parklands, courtyards and open space

  •  A new neighbourhood that spans over 27 hectares of land, equivalent to St James Park, with wide tree lined streets and open public spaces
  •  More than 10 hectares of new parks and open space interspersed with cycling facilities and recreation spaces
  •  Landscaped courtyard areas with gardens and play areas for people to relax and enjoy living in London's newest neighbourhood
  •  Located next to the 2.5km2 Olympic Park that will deliver 250 acres of legacy parklands to create the largest urban public park created in the UK for over a century including wetlands, woodlands, wildlife areas and riverside gardens

New homes for Londoners

  • 1,439 legacy homes spread across 11 residential plots to create a new neighbourhood for east London in one of the best connected parts of the capital
  •  New homes with functional, light spaces and open-plan layouts ranging from studio apartments to 4- and 5-bedroom townhouses
  •  New homes built around private courtyards with podium level car parking
  • New homes built to Code for Sustainable Homes Level 4
  •  Homes have been designed for modern, sustainable living, and their construction, fittings and finishes are of the highest standard
  • 11 individually designed plots providing neighbourhood character and choice

 Future development plots

  •  Six future development plots with existing outline planning consent
  • In total, the six plots have the potential for 2,000 open market homes to be developed, together with retail floor space and associated uses
  •  New community facilities, transport links and amenities
  • The new and future homes on offer are supported by new facilities including:
  •  A world-class education campus Chobham Academy, specialising in the Performing Arts, with 1,800 places for students aged 3-19
  •  A state-of-the-art Polyclinic with a full range of healthcare services including multiple GP surgeries, outpatient activity, and a children’s clinic
  • One of the best connected parts of the capital with Stratford International and Stratford Regional stations offering links to London’s key locations
  • With over 30 local and independent shops, cafes and bars, the feeling of an established neighbourhood will be created
  •  Adjacent to the world-class sporting venues of the Olympic Park

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