Weymouth gets £450m investment in preparation for sailing events at 2012 Olympics
Weymouth gets £450m investment in preparation for sailing events at 2012 Olympics
Weymouth has been chosen as the host of the sailing events during the 2012 Olympics. As a result of the decision, the city is set for a renaissance; flats, new marinas, a redeveloped ferry terminal and improvements to the road system are all planned.
Property investors can currently buy a Regency house in
Weymouth for £250,000, according to The Telegraph. However, the city has been earmarked for £450m of investment in preparation for staging the sailing events during the
2012 Olympics, which is expected to stimulate the
property market.
A decision on an £84.5m by-pass around the
Dorset city is expected soon and an additional £18m has been allocated to improving Weymouth's road system. The current site of the Pavilion Theatre and ferry terminal will be redeveloped to include 345 flats, a new ferry terminal, cafes, bars and a 150-berth marina.
The "rocky isthmus" of
Portland is also being transformed; the old naval accommodation at Osprey Quay is being converted into apartments. Investors in
property on Portland will also benefit from a new 650-berth marina at Portland Harbour.
Weymouth is proud of its Olympic status; "We have been put on the map as a capital city for sailing, which is one of the sports at which Great Britain won most medals," explained Weymouth and Portland Borough Council's Howard Legg. "We got the best sport in the Olympics, and
London got the others."
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