International law firm Olswang has advised clients of Delancey, the specialist real estate and investment advisory company, on their investment in iCITY and joint venture with Infinity SDC Limited, the UK's leading data centre operator.

iCITY has signed a deal with London Legacy Development Corporation for the long-term future of the former Press and Broadcast Centres on Queen Elizabeth Olympic Park. iCITY will help to regenerate east London by establishing a leading creative and digital hub at the site. The deal takes total investment on the Press and Broadcast Centres to over £1billion.

iCITY will comprise an innovation centre, auditorium, educational space, broadcast studios, office space and a state-of-the-art data centre. It has already secured a number of tenants including BT Sport, Loughborough University, Hackney Community College and Infinity SDC.

Delancey is a long-standing client of Olswang and this is the second deal on which Olswang has helped Delancey secure assets at the former Olympic site. Olswang acted for Delancey and Qatari Diar on their acquisition of East Village (formerly known as the Athletes' Village) in 2011 which is due to open to residents in summer 2013.

Corporate Partner, David Bunker said: "We are very pleased to have worked with the Delancey team once again in securing such a high profile site which will make a significant contribution to the redevelopment of East London. We wish iCITY every success with the project".

The Olswang team was led by Corporate Partner David Bunker and Tax Partner Cliona Kirby.

BLP advised Delancey on property matters, Taylor Wessing advised Infinity SDC Limited and Eversheds advised LLDC.

http://www.olswang.com/news/2013/05/olswang-advises-on-icity-investment/