Taylor Wessing has advised iCITY and Infinity as they sign agreements to secure the long-term future of the former press and broadcast centres on the Queen Elizabeth Olympic Park.
A joint venture between Infinity and Delancey, iCITY, has finalised its deal with the London Legacy Development Corporation to deliver a digital and creative hub where Infinity will create one of the largest and most efficient data centres in Europe.
The deal takes the total investment in the press and broadcast centres to £1bn and will stimulate long-term economic growth by adding more than £450m in GDP to the national economy through job creation.
The venture will create more than 4,500 jobs on site with an expected additional 2,000 jobs in the local area.
The team from Taylor Wessing was led by partners Howard Palmer and Alan Evans, supported by finance partner Martin Yells, construction partner Neil White and associates Greer Campbell, Louise Tobutt, Nick Jones, Brad Fearn and John Plant.