Fund will focus on Olympic sites

Rugby Estates is planning to set up an Olympic property fund for land and properties in London’s East End.

Over the next three years the property and asset management group plans to acquire up to 200m of industrial, commercial and residential assets throughout east London into Essex and south Suffolk for development in time for the 2012 games.

Since London secured the Olympic bid in July, estate agents have reported a significant rise of applicants expressing an interest in buying around proposed sporting venues.

It is estimated that house prices in the capital could rise by 66%, with properties in the East End increasing in value and desirability.

Andrew Wilson, chief executive of Rugby Estates, says the successful Olympic bid coupled with the improved infrastructure in the area make it a prime location and opportunity for investment.

He says: “We’re looking to invest in an area of London that has traditionally been undernourished and played second fiddle to the west of the city.

“But there is no reason benefits similar to those in west London can’t be enjoyed in the east.”