The Village will deliver 2,818 new homes, including 1,379 already purchased by Triathlon Homes to become high-quality affordable housing.
Delancey and Qatari Diar will now acquire the Olympic Delivery Authority’s interests in the remaining 1,439 homes, which will become private housing, along with six adjacent future development plots, with the potential for a further 2,000 new homes. Delancey and Qatari Diar will invest around £557 million for the purchase and long-term management of the Olympic Village. The deal also includes arrangements to provide a future profit-share for the public sector.
ODA Chief Executive Dennis Hone said: ‘This deal will deliver a significant return to the public purse and a first-class owner for the Olympic Village. It secures two leading property investors with the experience and expertise needed to make the Village one of the strongest legacies from the Games. The Village will deliver the best of city living all in one place with high-quality new homes, education and healthcare facilities, new parklands, great transport links, public squares and open space.’
