The Olympics

The Olympics


News, information and stories about the Olympic Games.

Monday, 22 October 2007

Post Olympic Shock

Once the London Olympics 2012 have ended, what will happen afterwards?

That's the question posed by Dr Angus McIntosh, a King Sturge (a property consultant) research partner.

Dr McIntosh notes that the improvements in infrastructure in the area that the Games are being held in will provide a boost to property prices pre 2012.

However, as he is quoted in the Telegraph:

"When all the crowds have gone, what are you left with?"

"At the moment there's a lot of discussion about the construction programme being over budget, but we haven't found any clear vision of what legal or political structure will be in place in the future.

You think of thousands of new homes, the parkland, the schools, the doctors' surgeries, all the bits that make sustainable urban development.

Who is going to manage and maintain it?

Who are the asset managers, not in 2012 but 2022

That is exactly the point that the politicians like to gloss over.

Other countries that have hosted the Games have found that the infrastructure that has been built becomes something of a wasteland afterwards. One year after the Athens Olympics the houses built stood empty.

Has anyone in charge of the UK Olympics really addressed that issue?

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