A time-table has been agreed for the phased handover of the Olympic Park at Stratford, centrepiece of London 2012’s summer of sport, to the London Legacy Development Corporation (LLDC).

The works programme to transform the site is well underway with the removal of temporary facilities and venues.

The start of handover means that the LLDC have taken operational control of the Olympic Park - perimeter security, access control and logistics operations- and can now begin works to transform the Park into the Queen Elizabeth Olympic Park, through a �292m construction project.

The Games organisers is also preparing to hand over the Olympic Village to the Olympic Delivery Authority so that a large-scale retrofitting programme can begin, transforming the 2,818 apartments and houses into East Village – a new community for London from 2013 onwards.

Seb Coe, LOCOG Chair, said: “The UK hosted a spectacular Olympic and Paralympic Games this summer. We have now begun the first chapter of the lasting legacy we promised when we bid for the Games.”

Dennis Hone, Chief Executive of ODA and interim Chief Executive of LLDC, said the works will take some time, promising: “But the wait will be worth it. Queen Elizabeth Olympic Park will be a fantastic new place to live, work and visit and enjoy. This really is an opportunity to create a legacy of the type we have never seen before.”

It will be next July that parts of the park will be open to visitors with the entire operation Queen Elizabeth Olympic Park will be fully open, hosting a rolling programme of events and attractions in the sporting venues and parklands. Around 8,000 permanent jobs will be created on the Park, as well as 8,000 new homes in five new neighbourhoods, supported by three new schools, nine new nurseries, three new health centres and a new library.