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Developers sought for £1bn east London project
04 June, 2008A new search for bidders to develop a £1 billion regeneration project next to the Olympics site has been launched.
A new search for bidders to develop a £1 billion regeneration project next to the Olympics site has been launched.
The Official Journal of the European Union is displaying the tender on its website on behalf of The London Thames Gateway Development Corporation and the London Borough of Newham.
Shops, education facilities and a residential scheme are planned for the Stratford Island regeneration project, part of which is to be completed within nine years.
The tender was initially offered in April but had to be withdrawn because it was not offered to all the relevant parties as required by EU law.
It invites bidders for the development of Lot 1, an 11.7 acre site opposite Stratford regional and Lot 2, a redevelopment which will include a £40 million campus for Birkbeck College, a part of the University of London.
Both projects - part of the east London regeneration plan - are estimated to cost £1.4 billion.
Construction has already begun on the Olympic village for the 2012 London Games. The development in east London will be turned into affordable housing units after the games.
Newcastle-based housebuilder Bellway has issued its half year results, showing a decline in completed sales of 14.2 per cent.
Balfour Beatty has surprised many analysts with its half year results reporting a £95 million profit, it has been reported.
British Energy's underlying profits for its first quarter to June 2008 were recorded as half that of the year previous, it has been announced.
IT management firms are among those benefiting from the ongoing credit crunch, it has been reported, after it was found that the economic squeeze has been a driving force for companies outsourcing their information technology.
British Gas owner Centrica has raised its bid for British Energy with the introduction of a cash offer, following a rejection by the government of its earlier bid.