The Olympic Park Legacy Company is preparing to begin formal marketing of the circa 1m sq ft 2012 Media centre in Hackney this May.
There has been some speculation that the Wellcome Trust’s bid to buy the centre as part of a wider attempt to create a hi-tech business park at the Olympic Park will mean the procurement process will need to be restarted and the entire opportunity offered this time to the market.
The OPLC has indeed admitted as much. I understand though that this may not be the case and that there is some thought going into how a land deal could be structured to enable one party to successfully bid for more than one element without going back to the procurement drawing board.
What is certain, as I have written before, is the legacy regeneration of the Olympic Park is a story that increasingly involves the threat of legal dispute over the choice of developers and tenants. More than one expert has said to me that the only people making money at the Park just now are lawyers.
Expect the London Development Agency to announce its professional adviser on a new masterplan for the neighbouring Royal Docks soon too.
Paul Norman's London 2012 property blog 