The commercial development partner for the post-Olympic Games Stratford City project has been chosen.
Property investment firm London & Continental Railways has revealed its choice of
commercial development partner for the post-Olympic Games Stratford City regeneration project.
Lend Lease is the lucky firm who has formed a joint venture with the landowner, injecting equity and acting as development manager on the £1.3 billion project, according to Property Week.
After the 2010 Games, this development will create 4 m sq ft of commercial space, including 300 homes, providing around 15,000 jobs.
In announcing the deal, Stephen Jordan, director of London & Continental Railways, said: "This agreement has secured continued momentum for the delivery of one of the largest mixed use developments in the UK.
"It brings with it the bulk of the important employment space that will continue the transformation of Stratford as an economic hub."
Lend Lease and Preston Council were recently criticised by the councils of Blackburn and Blackpool, who said they would be "undermined" by the sheer scale of Lend Lease's new £700 million shopping centre development in Preston.
Posted by Lisa Fear.
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