The future of all eight permanent venues on Queen Elizabeth Olympic Park have been secured, following the signing of a deal with iCITY for the Press and Broadcast Centres.
The news follows last month’s key legacy announcement that the iconic Olympic Stadium’s future was secured after it was confirmed that Premiership side West Ham United FC would be moving in as long-term anchor tenants for the multi-use venue in the summer of 2016.
iCITY will invest more than £100million to make the Press and Broadcast Centres an attractive and vibrant location where creative and digital companies will locate. More than 4,500 jobs will be created at iCITY with around 2,000 more in the local area by 2019.
Already confirmed tenants include BT Sport, which launched its new channels from Queen Elizabeth Olympic Park last week, Loughborough University, Infinity (the UK’s fastest growing provider of data centre services) and Hackney Community College, which will establish a new digital apprenticeship programme at iCITY.
iCITY, as part of its agreement with LLDC, has made a commitment to work with its tenants to provide employment and training opportunities for residents living nearby, as well as ensuring that local companies enjoy supplier opportunities.
Taxpayers’ money is protected by the terms of the 200-year lease, which remain commercially confidential. Legacy Corporation will take a share of profits from any future development receipts, rental share and estate charges that will create an ongoing revenue stream that will grow as new tenants sign with iCITY.
Boris Johnson, Mayor of London, said:
“With the future of eight out of eight permanent venues secure, London has well and truly delivered on what is a hugely important part of the Olympic legacy story. iCITY is the final jewel in the crown of Queen Elizabeth Olympic Park and as a world class digital hub that will employ thousands of people I’m delighted to welcome them on board.”
Dennis Hone, Chief Executive of the London Legacy Development Corporation, said:
“We said we’d transform wasteland in east London into one of Europe’s largest parks filled with award-winning sports venues that people will love, and we delivered. We said from the very beginning there would be no white elephants on the Park – and we’ve kept our promise. Now, by securing high quality tenants in the tech and education sectors, we will be providing thousands of jobs – and we remain firmly on track to deliver a meaningful physical and social legacy for Londoners.”
Gavin Poole, iCITY Chief Executive, said:
“These buildings provide an incredible opportunity to deliver one of the world’s leading digital and technology clusters and support the ongoing regeneration of east London.”
Jamie Hindhaugh, Chief Operating Officer, BT Sport, said:
“We are delighted to call Queen Elizabeth Olympic Park home, an iconic sporting backdrop for BT Sport.”
Professor Robert Allison, Vice Chancellor of Loughborough University, said:
“We are delighted to be part of the vision for Queen Elizabeth Olympic Park and are looking forward to establishing Loughborough University in London.”
Stuart Sutton, Chief Executive of Infinity SDC said:
“ iCITY will create a world-leading digital and creative hub with Infinity’s most efficient data centre at its heart, and we are proud to be a part of creating jobs, training opportunities and supporting the regeneration of east London.”
8/8 permanent venues secured – details of their legacy uses below:
1 – Press and Broadcast Centres – iCity developing a centre for business, delivering around 4,500 jobs.
2 – The Stadium – West Ham United Football Club confirmed as the Stadium’s long-term anchor tenant. The Stadium will also host five matches during the 2015 Rugby World Cup, as well as the 2017 IAAF Athletic World Championships.
3 – Copper Box – Greenwich Leisure Limited (GLL) operating the venue – open from summer 2013. ondon’s third largest arena; 6,000 capacity with courts for 20 different sports including basketball, boxing and badminton, as well as a gym and a café. Copper Box will host international events such as the Badminton Grand Prix in October. Home venue for London Lions Basketball Team.
4 – Lee Valley Hockey and Tennis Centre – Lee Valley Regional Park Authority to operate the Centre – open from spring 2014. The Hockey Centre will become England Hockey’s national events venue and will host the 2015 European Hockey Championships.
5 – Lee Valley VeloPark – Lee Valley Regional Park Authority to operate the VeloPark – open from spring 2014. Indoor cycling at the Velodrome, BMX track, 1.6km outdoor road circuit and 9km of mountain bike trails with links to London-wide cycling routes.
6 – Aquatics Centre – Greenwich Leisure Limited (GLL) to operate the venue – open from spring 2014.
7 – East Village – Qatari Diar Delancey and Triathlon Homes develop the Park’s first new residential area, East Village. Delivering 2,818 new homes; 1,439 private homes through Qatari Diar Delancy and 1,379 affordable homes via Triathlon Homes. First residents move in this summer.
8 – ArcelorMittal Orbit – Balfour Beatty Workplace operating the venue from summer 2013.