Wellcome Trust ponders £1bn Olympic Park bid

Charity is shortlisted to take over the athletes village after the 2012 games and might try for other areas too

Olympic Park
Olympic Park

The Wellcome Trust is considering making a £1bn bid to buy much of the Olympic Park, according to the organisation in charge of managing the park's future.

A spokeswoman for the Olympic Park Legacy Company said the trust was considering a £1bn move for the freehold, including 513 acres of land occupied by the stadium, the aquatics centre and the media centre. It had not yet submitted a formal bid, however.

The trust, which has assets of £14.5bn and funds medical research worldwide, is already one of nine shortlisted bidders to take over the athletes village, which will be converted into 2,800 homes once the 2012 games are over.

Wellcome's plans for the site in Stratford, east London, would conform to the government's original vision, including building 11,000 homes on the site, the OPLC said.

A statement from the trust said: "The Wellcome Trust has been shortlisted by the Olympic Delivery Authority to submit a proposal for the purchase and long-term management of the residential properties known as the athletes village.

"In exploring this opportunity further, we are giving detailed consideration as to how we may also become investors in the wider Olympic Park and optimise the legacy of the Olympics."

A spokesman for the trust declined to comment further.

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