The Queen Elizabeth Olympic Park

Contacts

Contacts
For further information please contact:

Jonathan Rhodes
020 7851 4818
07827 944646
jonathan.rhodes@glhearn.com

Client: London Legacy Development Corporation
Service(s): Valuation

On behalf of the London Legacy Development Corporation (LLDC) and E20 Stadium LLP (a JV between the London Borough of Newham and the LLDC) we have been valuing the Queen Elizabeth Olympic Park and all of the assets on it and its periphery for annual financial accounting purposes since 2015. We were initially awarded a three year contract for this work in December 2014 and successfully re-tendered for the contract in December 2017 following a competitive process.

The assets include the park and waterways, the 2012 Olympic venues including the London Stadium, the ArcelorMittal Orbit, the Aquatic Centre, the Copper Box Arena, Here East (the Olympic press and broadcast centre), various development platforms including Chobham Manor, East Wick, Sweetwater, Stratford Waterfront (the proposed Cultural and Education District) and Pudding Mill, as well as various investment and strategic development properties.

The appointment of external valuers required us to demonstrate our expertise, knowledge and capability in valuing these type of assets and to support both the LLDC and E20 in preparing their financial accounts with regards to their property assets. Our valuations have to be provided in accordance with relevant accounting regulations, the Code of Practice on Local Authority Accounting and the RICS Valuation Professional Standards (the Red Book).

We provided expert valuation staff with a wealth of appropriate experience and completed the valuation exercise within a tight timescale, providing reasoned and consistent valuation advice, satisfying both the clients and their external auditors, as well as providing additional strategic asset management advice over and above the remit of our contract.

We have a dedicated valuation team of RICS Registered Valuers comprising experienced individuals with the necessary knowledge and specialist expertise enabling them to provide high quality advice across the UK.  We pride ourselves on our independence and professionalism, which enables us to provide the right advice based on basic property fundamentals working with our clients in being forward thinking, pro-active and innovative.