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Ben Parkinson
Ben Parkinson
  • 1 Minute Read
  • 25th February 2013

Northern Irish firm get gold in race for sale of Olympic stadium

BTWSheills, a Belfast-based commercial property company, has been commissioned to orchestrate the sale of the iconic basketball arena in Stratford’s Olympic Park, representatives have confirmed.

The east London stadium – made famous through a string of stellar showings during the London 2012 Olympics and Paralympics – will be sold in conjunction with accountancy firm Ernst & Young, and currently holds a guide price of £2.5m.

The largest temporary structure in Olympic history, the stadium is currently being dismantled at its Stratford base, with de-construction of the outer corrugated room set to commence from March.

BTWShiells investment director Paddy Brennan said: "The Arena has global appeal and it will be very interesting to see where this iconic structure ends up and what it will be used for. The interest to date has been incredible and we anticipate its transportability and the fact it can be utilised for a variety of functions being key selling points."

Today’s news confirms one of the most crucial aspects of the government’s legacy plan, which has seen major initiatives to encourage TMT companies to move in to the former Media Centre, and is likely to act as a catalyst to the conversion of the locality into a more multi-purpose neighbourhood.

When removed, the arena will leave a vacant footprint of 11,000 sq m of prime commercial land, and is sure to spark interest from both residential and office space developers. Sitting between the soon-to-be residential area of Victory Park, the property is just across the water from the future offices of BT Sport in iCity.

 

Photo courtesy of Matt Lancashire.