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Olympic Buildings - What's Happening to Them Now?

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Olympic Buildings - What's Happening to Them Now?

By - Tuesday 25 March 2014

There is currently much talk about the Olympic legacy, as the redevelopment of the area kicks into gear post-games. While much of the space will be used to create new communities, there was always a question about what would happen to the buildings specifically built for the event.  2 years on, it's a good time to take a look at how the purpose-built structures are being used to help support London as it grows.

Olympic Stadium

The centre of summer activities in 2012, the Olympic Stadium will become the home of West Ham United Football Club from 2016. However, it will also be used for athletics and other events, including the 2015 Rugby World Cup, the 2017 World Athletics Championships and International Paralympic World Athletics Championships.

Press and Broadcast Centres

iCity will develop state-of-the-art infrastructure for creative and digital industries on the former site of press and broadcast centres at the Queen Elizabeth Olympic Park. It will consist of three main buildings: the 850,000 square foot former Broadcast Centre; the 300,000 square foot Press Centre; and a 750 seat auditorium.

The Broadcast Centre will be turned into office and studio space, including one of Europe's most efficient data centres managed by Infinity SDC. New educational facilities will also be put on site, including units for Hackney Community College and Loughborough University.

BT Sport already uses the Broadcast Centre as a 80,000 square foot production hub, with three studios, 20 editing suites, three interoperable galleries, four sports galleries, and a holding area to hold an audience of up to 160.

Once developed, the east elevation will see a structure erected to look out on the Olympic Park and be home to individual, small scale structures for start-ups and local businesses. A yard between the press and broadcast centres will be built in which to run film screening and community events. Elsewhere, a range of retail outlets will be established, primarily for local and artisan producers.

Gavin Poole, chief executive officer of iCITY, said: "These new and inspirational designs reflect our commitment and vision to develop a hub for the digital and creative industries on the Olympic Park, supporting the development of East London into one of the world's leading technology centres.

"iCITY's vision is to be anchored in the creativity, energy and innovation of East London, providing state-of-the art infrastructure for the digital and creative industries. These designs fulfil that ambition, and are an important step towards delivering the economic and employment legacy from London 2012."

The Aquatics Centre  

Two 50 metre pools will be open to the public, attracting around 800,000 visitors a year. Both local people and high performance athletes will use the Olympic-sized pool, making it an important leisure and sporting facility for the community and the UK.

The Copper Box

Already open to the public, the venue is home to events from basketball to boxing. It is the third largest arena in the capital and is expected to bring in around 400,000 visitors a year.  The London Lions - one of the UK's basketball league teams - was the first professional side to play a match at the Copper Box.

Speaking about the potential of the site to be used as a boxing venue, Eddie Hearn, the managing director of Matchroom Sport, told the BBC: "The Olympics were a huge success and there is an amount of attraction to us and the public in re-visiting that area and working in a quality building. There is a distinct lack of quality, seated arenas in London at the moment, especially for holding huge boxing events. We have already stressed we could potentially bring some boxing to the capital at the Copper Box."

Lee Valley VeloPark

Owned and managed by the Lee Valley Regional Park Authority, the site will reopen early 2014 and consists of a one mile road cycle circuit, a mountain bike trail and a 6,000-seat Velodrome.

Eton Manor Sports Complex

Also managed by the Lee Valley Regional Park Authority, the site will become a tennis and hockey centre when it reopens in Spring 2014. It will include four indoor and six outdoor tennis courts and will host the 2015 European Hockey Championships.

Athletes Village

The Athletes Village will become the East Village and provide 2,800 homes to Londoners. It opened this autumn to its first residents and Boris Johnson has made these properties available via the First Steps website. This means people will be able to enjoy below market rent, shared ownership options and the choice of shared equity. A new school - Chobham Academy - and health centre will be established to support this new community.

Hotels and Housing

Extensive work is underway on numerous projects in and around the Stratford area - see our recent report on some of the specifics of The International Quarter itself.

Thinking of investing in the area? - click here to see the latest Secure Exit Strategy™ opportunity in the region from IPIN Global

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*This page is provided for information purposes only and should not be construed as offering advice. IPIN is not licensed to give financial advice and all information provided by IPIN regarding real estate should never be treated as specific advice or regulations. This is standard practice with property investment companies as the purchase of property as an investment is not regulated by the UK or other Financial Services Authorities.


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