Bidders needed for £1.4bn development


Bidders have been encouraged to apply to develop a £1.4 billion project next to the Olympics site in East London, Property Week has reported.

The London Thames Gateway Development Corporation and the London Borough of Newham have re-launched their search for bidders to work on the Stratford Island Regeneration Project.

Its initial call had to be withdrawn as it had failed to make the scheme available to enough parties.

Two lots have been offered, one an 11.7-acre site opposite Stratford train station and another, a car park on Salway Road.

The second lot will include a £40 million campus for Birkbeck College, University of London.

Property Week has reported construction is not expected to be completed on Lot 1 for nine years and Lot 2 for 36 months.

The government has recently agreed London Thames Gateway Development Corporation’s corporate plan for 2008-11.