Olympic Games 2012:Written question - 109351

Asked by Mr Steve Reed
(Croydon North)

Named Day

'Named day' questions only occur in the House of Commons. The MP tabling the question specifies the date on which they should receive an answer. MPs may not table more than five named day questions on a single day.

Asked on: 24 October 2017
Department for Digital, Culture, Media and Sport
Olympic Games 2012
To ask the Secretary of State for Digital, Culture, Media and Sport, what proportion of the assets at the Olympic Park have been sold; what revenue those sales have yielded; and what further such sales of assets are planned.
Answered by: Tracey Crouch
Answered on: 30 October 2017

The London Legacy Development Corporation, the body responsible for the regeneration of Queen Elizabeth Olympic Park and surrounding area following the London 2012 Games, owns the assets on the Park and is responsible for their disposal.

To date the Legacy Corporation has entered into development agreements for three housing neighbourhoods on the Park - Chobham Manor, East Wick and Sweetwater - for which it has so far received £38 million in deposits and land receipts.

In addition the Olympic Park Legacy Company, the Legacy Corporation's predecessor, sold land at Sugar House Lane near to the Park for £19.5m in 2011.

Total revenue to date is, therefore, £57.5 million.

Future receipts will be generated as the housing sites under construction are built out and development agreements are entered into for additional housing sites at Stratford Waterfront, Pudding Mill and Rick Roberts Way.

The Legacy Corporation has also entered into a long-term lease for the new business district being developed on the site of the former Press and Broadcast Centre, Here East, and long-term leases will be let to the institutions involved in the planned culture and education district on south of the Park.

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