The Wellcome Trust is exploring further Olympic investments which could almost double its property investment portfolio, following its shortlisting for the purchase and long-term management of the Olympic Village.

The Trust is set to submit its formal offer for the Olympic Village to the Olympic Delivery Authority this spring, but now the charity has confirmed that it is giving "detailed consideration" into investing in the wider Olympic Park.

A spokesperson for the Olympic Park Legacy Company, which owns approximately half of the Olympic Park site, confirmed that the Wellcome Trust had approached the company to discuss the possibility of purchasing the freehold for this space and advised that “the figure of £1bn had been raised”.

“We are having a meeting with the Wellcome Trust to flesh out the proposal, but at the moment there is no formal bid. If they were to bid we would have to put it out to competitive tender,” added the spokesperson.

The Trust currently holds a property investment portfolio of £1.39bn and a general investment portfolio of £14.95bn.  

While it wouldn't confirm any details, a spokesperson for the Wellcome Trust advised, "We are giving detailed consideration as to how we may also become investors in the wider Olympic Park and optimise the legacy of the Olympics. To this end we are currently meeting with a broad range of stakeholders to explore this opportunity further."

The site currently being discussed with the OPLC is comprised 104 hectares of land including the Olympic Stadium, the Aquatics Centre, the Media Centre and an upcoming housing development of 800 homes. The site excludes the 73 acres of land incorporating the Athletes Village which the Wellcome Trust is already shortlisted to purchase. Therefore, if the Wellcome Trust was successful in its bidding, it could be responsible for 177 hectares of Olympic land. 

The move follows an undisclosed investment by the charity in online lender Wonga last month.