The Wellcome Trust to bid for Olympic Park

The future of the Olympic Park took an interesting twist yesterday as it emerged there is serious interest in investing in the site from charity The Wellcome Trust.

The Wellcome Trust to bid for Olympic Park
The Wellcome Trust to bid for Olympic Park
The organisation, which has an investment portfolio worth more than £14bn, is rumoured to have earmarked £1bn for the site.

"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," said the group in a statement.

"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. To this end we are currently meeting with a broad range of stakeholders to explore this opportunity further."

The Trust will be dealing with the Olympic Park Legacy Company, an organisation set up to find investors in the area after the 2012 Games. Insiders suggest the area, which will have improved transport links and 1.9m sqft of retail and leisure space, will not be short of buyers. The Wellcome Trust is the first to put its head above the parapet.

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