PRESS & BROADCAST CENTRES

The Legacy Corporation’s Board agreed to award iCITY sole preferred bidder status to become the long-term tenant of the Press and Broadcast Centres – in keeping with its vision to create a new commercial centre on the Park. iCITY will now have an opportunity over several months to submit credible business plans to show it can deliver the Legacy Corporation’s aspirations for the Press and Broadcast Centre site.

iCITY aims to create a leading centre for technology, design and research with the potential to generate more than 4,000 jobs. The digital hub would harness innovation and creativity in east London. The iCITY vision also has a community focus including a conference centre and a pedestrian square for broadcasting major sporting events, along with cafes, restaurants and bars.

The Legacy Corporation has set iCITY tough but achievable requirements that must be met before any agreement for lease is formally signed.

STADIUM

Following an extension to the bidding period, the Legacy Corporation can today reveal that it has received four bids for the venue. Bids from West Ham United, Intelligent Transport Services in association with Formula One, UCFB College of Football Business and Leyton Orient will now be assessed to ensure they are compliant, before being evaluated ahead of negotiations.

These bids could add to the legacy uses already secured for the Stadium. It is already set to become the new national home for athletics and host to the IAAF 2017 World Athletics Championships.

HOUSING

The Board also selected the winning developer to build the first new neighbourhood on the Queen Elizabeth Olympic Park, as the area will be known after the Games. The developer, which cannot be named until the tendering process is fully completed next week, will be able to begin work as soon as the Games finish in order for the first homes to be ready at the end of 2014.

Mayor of London, Boris Johnson, said:

“London couldn’t be in a better position to stage the best Games ever with everything ready to go and our legacy plans in great shape. With the future for six out of the eight Olympic Park facilities are already secured, it is now particularly encouraging to see on top of that a substantial bid for the Press and Broadcast Centres that we hope will act as a spring board for major job creation and new opportunities for local people.

“No other host city has been this far advanced with its legacy planning before even the first starting gun has been fired.”

Daniel Moylan, Chairman of the London Legacy Development Corporation, said:

“London is further ahead in planning legacy than any previous host Olympic city. Despite our success this is no time to rest on our laurels. We have planned a superb Queen Elizabeth Olympic Park and we are working to ensure we achieve the right long term future for all our permanent venues.

“This is simply unprecedented in the history of the Games. While there is still a way to go, we should be proud of the achievements so far in planning a new part of London with new homes, jobs and a set of thriving sporting venues for everyone to enjoy.”

Andrew Altman, Chief Executive of the London Legacy Development Corporation said:

“Today’s announcements are the culmination of three years’ hard work from the team. Building on the recent planning approval of our masterplan for the Queen Elizabeth Olympic Park, they represent a significant milestone in turning planning into reality. Through this kind of private investment we can work to create a great employment, housing and sporting legacy for east London.”

Gavin Poole, Chief Executive Officer of iCITY, said:

“We are delighted that iCITY has been selected as Sole Preferred Bidder for the legacy use of the Press and Broadcast Centres on the Queen Elizabeth Olympic Park. This is a unique opportunity to cement Britain’s position as a global leader in innovation and the creative industries.

“iCITY will provide a sustainable legacy for the local community through the creation of thousands of jobs, apprenticeships and training opportunities. The incredible track record of start-ups and entrepreneurs in east London is growing at an impressive rate, and this is a chance to provide additional connectivity, capacity, investment and highly advanced infrastructure. I am hugely excited that work can now begin on turning that vision into a reality.”

The Press and Broadcast Centres will house 20,000 journalists during the Games. Afterwards, the Broadcast Centre will offer 95,000 sq ft of office space over five floors and 575,000 sq ft of commercial space over two floors. The five storey Press Centre will provide around 317,000 sq ft of prime office space with the potential for retail uses on the ground floor.