Eight Years On, Here East Reveals Economic Impact of London Olympic Legacy

- Here East launches Impact Report showcasing economic and social opportunities brought to East London

- Community of 4,500 now working and studying in the former Press & Broadcast Centre for the London Olympics

- Nearly 100,000 visited the campus for events, education and business over the last 12 months

LONDON, Aug. 27, 2020 /PRNewswire/ -- Delancey's award-winning Here East, London's innovation campus and launchpad for the capital's most impactful businesses and technologies today launched its 2020 Impact Report showcasing its economic and social impact.

Eight years after London hosted the Olympics and with less than one year to go until the delayed 2020 Tokyo Games, the Impact Report demonstrates the instrumental role of the campus in continued job creation, innovation, and investment, as a result of a post 2012 Olympics vision. The report showcases the impact that Here East, the result of the redevelopment of the former Press and Broadcast Centre for the 2012 Games, has had both on the local East London community and across the wider capital.

The campus is now home to a community of 4,500 people working and studying on site, and attracted 95,678 visitors over the last 12 months.

With 75 per cent of the campus let to companies spanning startups, academic institutions and global corporates, Here East, and the onsite innovation centre Plexal, has become London's fastest-growing cluster for esports, micro-mobility and the creative industries.

The Here East Impact Report demonstrates the economic and social impact the campus has brought to the local area, born from the vision of London's Olympic legacy strategy in 2012.

Engagement with young people through employment and educational support is a key part of this. Here East's Insights Programme has provided more than 100 local young people with opportunities to engage with businesses in the last 12 months while the London Legacy Development Corporation's (LLDC) free EAST Education Summer School welcomed over 400 local 12-17 year olds to access space and business insights across the campus. The four universities onsite engage daily with tenant businesses onsite to offer students opportunities to develop career experience.

With concerns growing about the final cost of the Tokyo Olympics and the impact of the global economic crisis on future host cities, Here East's Impact Report is a timely reminder of the positive socio-economic results of private-sector investment into Olympic sites.

Gavin Poole, CEO of Here East, comments, "The vision for Here East was to create a space that housed ground-breaking technology-driven and creative businesses, to deliver jobs and education for east London and the whole of the UK as part of the Olympic legacy. Eight years later, that legacy has created a community of entrepreneurs, academics and corporates at the forefront of the country's economic recovery. This Impact Report sends a clear message to the rest of the UK and future host cities around the world – the Olympics can be a springboard for entrepreneurial success and a launchpad for innovation with long-term economic and social benefits."

Deputy Mayor for Business, Rajesh Agrawal, said: "Here East has set a new standard for regeneration as part of the legacy of the London Olympic and Paralympic Games, which benefits local communities and drives economic growth. The Mayor and I have seen first-hand how the community is supporting disadvantaged Londoners as well as pioneering world-class innovation and research which could have an impact on Londoners for years to come."

Here East, which is owned by clients of Delancey, a specialist real estate investment advisory company, is designed to foster collaboration, allowing its community to scale and grow at pace.