UK Fashion Hub Pulls Out of Bid for Olympic Media Centre
In the meeting the LLDC designed Brief, the UK Fashion Hub (UKFB) put forward a very strong, privately financed bid to transform the Olympic Media Centre (built with £350 million of tax payers money) into a dedicated fashion centre. Not only would the Fashion Hub have transformed the two lacklustre buildings into an attractive sustainable destination, it would have created over 4,000 much needed new jobs within 3 years (over 12,000 jobs in 10 years) for the local communities in the host boroughs, as well as generating significant income for the LLDC throughout the term of the 125 year lease.
Throughout the process, the UKFB has maintained that the Press and Broadcast Centre buildings are importnat public assets and has understood that if a better and more conomically beneficial occupier could be found, it would respect that decision.
Press coverage over the past two days has reported leaks that suggest a decision has already been taken to appoint iCity as the preferred bidder, depite the LLDC Board meeting scheduled for the 17th July to make that decision. This, and other issues, have compounded the unease felt by the UKFB team that the process has not been as transparent as it should be, and therefore the dicision has been take to withdraw.
PR Director, UK Fashion Hub