Olympic 2012 media centre 'under threat'

The media centre for the London 2012 Olympics could be in jeopardy after it emerged that the project is struggling to secure funding.

Hackney mayor Jules Pipe stated that the project will be shrunk by 80 per cent, while the budget will be reduced by £100 million.

Low-cost building will also be used and the International Broadcast Centre, planned at for six million square feet, will now be temporary.

According to the BBC, this could mean that Hackney in east-London may not get the type of facilities that it was expecting to gain as a result of building work carried out for the Olympics.

"If more money is not found either through the Treasury or borrowing then the physical legacy at the site in Hackney could be a fifth of what we originally envisaged," Mr Pipe told Property Week.

In related commercial property news, a GVA Grimley report recently found that demand for office space in Scotland remains strong, particularly in Aberdeen.