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Three shortlisted to take over Olympic Village

7 Apr 11 Three investment groups have been shortlisted to take over ownership and management of the Olympic Village after next year’s Games are over.

They are: Delancey & Qatari Diar, Hutchison Whampoa and Wellcome Trust.

The Olympic Village will deliver 2,818 new homes after the London 2012 Games, including 1,379 new homes already purchased by Triathlon Homes, which will become affordable housing.

The Olympic Delivery Authority (ODA) owns the remaining 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 buy the ODA’s interests in the Village and is looking to secure best-value together with a long-term commitment from an investor.

The ODA expects a final decision on the purchaser for the Village to be made in the summer. Any proposal would have to be approved by the government.

Construction work started on the Olympic Village in June 2008 and the first of 11 residential plots was completed last week.

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MPU
MPU

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