London Stadium valued at £1.5m
The London Stadium has been valued at just £1.5m by its owners E20 Stadium LLP in a report published for the LLDC board meeting held on 23rd November.
The former 2012 London Olympic stadium cost over £750m to build was valued at Nil last year.
The assessment considers the business plan of how much income the stadium could make in excess of its operating cost and what a potential un-pressured buyer would pay for the stadium in the current market. The valuation is considerably down from a £40m valuation in 2015.
Figures in the same report show rental income of just under £5m but total losses of £29m with £27.7m lost by E20 Stadium LLP and £1.4m lost by London Stadium 185.
London Stadium 185 is a wholly owned subsidy of E20 Stadium LLP which in turn is a wholly owned subsidy of the London Legacy Development Agency (LLDC)
London Stadium 185 are due to publish their financial accounts before 31st December at Companies house.