INDUSTRY NEWS

Olympics bode well for East London commercial property

As the two-year mark passes to the 2012 Olympics, analysts are predicting a huge rise in demand for commercial property. London, as the venue for the games, will experience a spike in interest among investors, with East London set to benefit the most.

Work on the area’s infrastructure is already well underway. The capacity of Stratford Regional Station, which will be the main transport hub of the 2012 Olympics, is being increased three-fold, to manage its anticipated 120,000 hourly passengers at peak times. A retail development currently in process, the Westfield Shopping Centre, will open next year and create 18,000 new jobs. Westfield also have permission to build over a million square feet of office space.

Commercial property will not be the only sector to benefit, with buy-to-let landlords also expected to cash in to the tune of £2,000 per week during the games.