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The Olympic Delivery Authority (ODA) will be looking for a deal which offers best-value along with a long-term commitment from an investor. They must have the experience and expertise needed to realise the full potential of the new homes being built and the future development opportunities across the Village site.
The Village will deliver 2,818 new homes for east London after the Games. Half have been purchased by Triathlon Homes to become affordable housing. The ODA owns the remaining homes, which will become private housing to be sold or rented in the private market. The ODA also owns six future development plots on the Village site with the potential for further homes.
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The ODA is now seeking expressions of interest from the private sector to take on its interests in the Village, covering both the new homes being built and the future development plots on the Village site.
ODA Chief Executive David Higgins said: "The funding of the Olympic Village has provided the public sector with a first-class asset and we are now starting the first stage of the process to recoup the investment that has been made. This is a unique and significant investment opportunity and while securing best value will be key, we will be looking for the best owner for the Village, not necessarily the highest bidder.
"The Village will be one of the strongest legacies from the Games and our focus will be to secure the experience and expertise needed to realise the full potential of the new homes being built and the long-term development opportunities across the site."
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