Olympic Houses Snapped Up

Ever wondered what would happen to houses built for the Olympic Village, well, Triathlon Homes, a joint venture between First Base and housing associations Southern Housing Group and East Thames Group, will buy 1,379 affordable homes in the Olympic Village for £268.7m

According to reports in the press, The Olympic Delivery Authority (ODA) confirmed today that it had entered into a presale agreement with Triathlon Homes. The investment includes a £110m grant from the Homes and Communities Agency (HCA), equity from Triathlon Homes, and lending from a banking consortium.

This funding is separate to the ODA’s budget and the remainder of the homes being built for the Athletes Village will be funded through the public-sector funding package announced by the government last month.

After the Games, the Village will comprise 2,800 homes and after the games Triathlon Homes’ 1,379 flats will provide a range of affordable housing options including affordable rented, intermediate market rented and part-buy part-rent (shared ownership) homes, together with shared equity housing.

Tenants wishing to enter the flats will have to hop skip and jump across the large sand pit...