Author Login | Popular Articles | RSS Feeds | Sitemap

Home | Finance | Real-estate


Delivering the 2012 London Olympics: A UK Land Grab?

By: Dietrich Elliot

In July 2005, London en masse celebrated winning the right to host the 2012 Olympics. Since then, the hosting of the games has been much discussed: this article is concerned not with the wider issues but with the ODA's need to buy land to deliver the infrastructure.

The bid team identified a 306 hectare zone of UK land in east London to host the Olympic village and the main stadia. This was not in the traditional sense land for sale so upon winning the games, the London Development Agency (LDA) invoked compulsory purchase orders on some of the relevant UK land sites in the zone.

Through a combination of existing ownership and buying land, ninety percent of the required 306 hectare zone of UK land in east London is now in public hands primed for Olympics infrastructure. The cost of buying land was not included in the original budget (the talents of the bid team did not apparently extend to basic financial forecasting), and it is not only land for sale in the Olympics zone which has been acquired.

Additional UK land sites have been purchased in order to relocate businesses which operated in the Olympic zone: to some there is an irony that one of the main intended legacies of the Olympics is job creation whilst simultaneously displacing businesses onto UK land sites in other parts of the country. The total cost of acquiring all the necessary UK land is thought to be around Ł1 billion.

There have however been objections, not only to the perceived UK 'land grab' from powerless businesses and individuals, but also to alleged profiteering through buying land on the periphery of the zone by the LDA to benefit from future rises in the value of that development land.

The fact that this is not land for sale on the open market means that prices may not reflect the true value of the development land. The allegation, then, is that the Olympics have become a Trojan horse for companies involved in property development: there is a huge opportunity to acquire investment land with huge property and development potential at bargain prices.

The mayor's Olympics adviser Neale Coleman disputes this claim: "...it would be absurd to be trying to buy land that is not absolutely necessary to deliver the Olympics". A spokesman for the LDA insisted it was offering market value when buying land in the zone.


It has not at all times been plain sailing for the LDA when buying land. In February 2007 the LDA's efforts to buy land used for allotments in the Manor Gardens area of Waltham Forest was rejected by land use planning officers at Waltham Forest Town Hall. Campaigners argued that buying land from individuals was unlike buying land from companies: the former have an emotional attachment to UK land sites which they have long used, unlike the latter (which are concerned with profit maximisation).


The 2008 Beijing Olympics has attracted negative publicity for buying land and displacing local people. As with London, this was not land for sale purchased at open market prices and it has been suggested that private property developers have made lucrative land investments in the run-up to the games in China.

Olympic Delivery Authorities are powerful agents and there is no doubt that the political will is firmly behind the on-schedule delivery of the 2012 Olympics. This means in all but the most extreme cases the LDA will be empowered to buy land in the areas it deems necessary.

So does this represent a UK land grab? Well, perhaps it does, but it was to be expected. In some cases it has caused anguish but the bulk of the 306 hectare zone of UK land earmarked for the Olympics is industrial development land. However what is certainly true is that the cost of buying land has risen substantially since the bid was won, which has contributed to the swollen Olympic budget.

Article Source: http://www.articlesnatch.com

About the Author:
Dietrich Elliot is a Land Investment exert who generously shares his expertise with novice UK Land investors. For more information about the opportunities and pitfalls in UK Land investment please visit http://www.land-investment-uk.com

| Print | Ezine Ready | |

Recent Real-Estate Articles

  • The Best Gainesville Apartments for UF Students By: Gainesville Apartments Expert - Looking for an apartment in Gainesville Florida? There are more than 30 apartment complexes to choose from, but most UF students are so disappointed in their choice that they end up moving out within 1 year of moving in. Consider these points before choosing a Gainesville apartment, in order to increase the liklihood that you'll like where you live. Gainesville Apartments: Location Matters Whether you are a UF freshman or a UF senior, the best Gainesville apartments for you will be the ones near UF campus.
  • Major Rules of Property Ownership By: Michael Edwards - Major Rules of Property Ownership A property is an entity, physical or virtual, that an individual can own. This can be a personal, real, or intellectual property. When a person chooses to invest in any of these types of properties be sure that you understand your rights. You have rights over the property and whatever you intend to be doing with it. Owners have the right to sell, transfer, exchange and even mortgage these properties as you see fit.
  • Living in Miami By: Mike Smith - Miami has always been a hot spot for spring breaks and summer vacations for various reasons, one them being the beaches of the place can be a real paradise. Every year we see a lot of tourists strolling on the Miami Beach strip, having fun in the sun, in their beachfront condos with thoughts of making Miami their permanent vacation spot. Miami real estate has really got big attention with this factor.
  • Eco-Friendly Latvia Real Estate is Wonderful for an Investment or a Dream Vacation Home By: Chris Robertson - Whether you wish to buy a dream vacation home in a foreign country or are seeking investment lands or properties, you'll discover more than ever expected in eco-friendly Latvia (European Union). Latvia brings the wonders of nature together with gorgeous sandy beaches, thriving green forests, and acre after acre of untouched fertile lands. Everything about Latvia promises an eco-friendly place to live and work. Tourists are amazed by the country's beauty; and many retirees and real estate investors long to live there. Known as the "heart of the Baltics," Latvia is beautifully situated along the Baltic Sea.
  • Real Estate Agent Helps To Purchase and Sell Property By: Sarabjit Sandu - A real estate agent helps you deal with property purchase and sales in a professional manner. Today, as the need for housing increases rapidly, many companies are offering real estate services to people. There are famous companies that are dealing with real estate accommodation in prime locations of many countries around the world. These services help people from international locations to search real estate properties at affordable rates and invest in them. This is the ideal time for real estate investment as many of the properties around the world are witnessing downtime due to global economic slowdown.
  • La Dolce Vita - Cheaper By: Laura Latham - If you stop at Tuscany or Umbria you may be missing out on one of Italy’s best-kept secrets – unspoilt Le Marche. Bordered by the Adriatic and hemmed in by the Apennine mountains, the region offers rolling farmland, medieval towns and bustling coastal resorts. With recent capital appreciation of around five per cent per annum in the past three years, prices in Le Marche have stayed pretty reasonable. Linda Travella of Casa Travella, says the area is a good option if you want the beauty of more popular regions but don’t want to pay their prices.
  • Spanish Property for sale- Owning a home is no longer a distant dream By: Nick Stuart - Spanish property provides a great opportunity to invest and earn a profit in a short time frame. In Spanish property for sale you will get each type of properties such as for holiday home or retirement property. Rates raises as the beaches become nearer but in past few years the rates are slowed down. The charming beauty of Spain and the lovely weather make it ideal for holiday homes, retirement homes or as an appreciating investment. So ensure first you buy your own Spanish property for sale while it is still cost-effective.
  • The mortgage loans are commonly long term loans in feature By: D.C. Fawcett - In the mortgage business, the interest of the lender is always stressed. Mortgage should aim at the security to the lender. The lender has the right to foreclose on the property if the borrower fails to repay the loan as per the terms and conditions. But the borrower can be excepted as the equity of redemption is there to protect the borrower’s interest. The borrower has the right to have an absolute right to insist on redemption. Mortgage loan is a loan secured by real property through the use of mortgage.
  • Decluttering Your Home in Preparation for Selling By: Mark Hostetler - In order to sell your house in a buyer's market, you must make your house stand out from the rest. The first way to do this is to clean your house completely. A thorough clean includes decluttering. You can use this time to get rid of clutter that isn't adding anything to your life - other than something to move aside, shove away, or trip over. This will not only enable you to stage your home more efficiently, it will also lessen the stress of having "mess" to clear away before every home showing.
  • How to Drop a Client By: Matt Barker - So you're a real estate agent and you have a Client From Hell. You're ready to end the relationship, but how do you do it? Here are a few approaches that might ease the transition from having a pain-in-the-you-know-where client to blissful freedom. It's Not You, It's Me. "I'm sorry, PITA Client, but I just am not working as well as I can for you. Here is the number for [Colleague who I want to see suffer]. I'm sure you will all get on just dreamily together.

Search Ebay

Still can't find what you are looking for? Search for it!


Submit Your link to the Open Link Directory Project

Copyright 2005-2008 MJE Sales, LLC. All Rights Reserved.
Proud member of the ArticleCkr Search Network Search Network!
ArticleSnatch.com is free for both publishers and authors to use and is supported entirely from advertising revenue.
Use of our service is protected by our Privacy Policy and Terms of Service.