Local businesses lose 2012 fight- 20 Dec 2006 00:00:00
The remaining businesses operating on the 2012 Olympic Park site in East London will be forced to move after the Olympic organising committee LOCOG won a legal battle allowing it to purchase the land.
LOCOG had already negotiated the use of 93% of the land needed for the 2012 Games but the Compulsory Purchase Orders (CPOs), confirmed by Industry Secretary Alistair Darling, will ensure that the remaining businesses will be forced out.
The businesses affected by the latest move have been opposed to plans as they believe they warrant better compensation agreements.
Manny Lewis, chief executive of the London Development Agency (LDA), said: ‘Whilst we have been granted the CPO powers, we will continue to negotiate with landowners in an effort to reach agreements.’
The LDA admitted about 70 businesses may have trouble moving and some jobs may be lost, but the Olympics would lead to an extra 11,000 jobs in the area.