[EXCLUSIVE IMAGES] London Mayor Boris Johnson today announced the official transfer of London development Agency owned Olympic Park land to the Olympic Park Legacy Company (OPLC)
The transfer of ownership gives OPLC formal responsibility for redevelopment of the east London 2012 Olympic Games site (pictured).
Speaking today at MIPIM Boris Johnson, mayor of London said: ‘This has been a long and complex negotiation, but I am delighted to say we have now reached agreement with government on all the issues under discussion.
‘The next step will be to carry through the land transfer to the Legacy Company. This is a good deal for London and for legacy.’
The decision comes after protracted negotiations between the LDA and Treasury over which organisation would benefit from future land sales.
Peter Rogers, chief executive of the London Development Agency said: ‘This deal will give the legacy from 2012 every chance of success.
‘Our negotiations with Government have produced a good deal for London, with a significant benefit for the London Development Agency, which gives the certainty that will allow us to plan our future investments for Londoners in a period of tight public finances.’