The contract, which was finalised today, sees the BOA become the first National Olympic Committee to sign an agreement to utilise space at the One Stratford Place office development within Westfield Stratford City with Team GB set occupy the 1,947 square metre area on the eighth floor which offers panoramic views of key Games venues including the Olympic Stadium.

Following the conclusion of the Olympic Games, the venue and its fixtures, fittings and equipment will be handed over by the BOA, free of cost, to the British Paralympic Association (BPA) to support ParalympicsGB during the London 2012 Paralympics.

Andy Hunt, Team GB Chef de Mission for London 2012 and BOA chief executive, said: "Team GB House will be our operational heartbeat during the London 2012 Olympics.

"It is an important component in our strategy to deliver the very best possible support and preparation environment to Team GB to enhance athlete performance.

"The excellent facilities at Westfield Stratford City, combined with its ideal location adjacent to the Olympic Park allow us to offer unprecedented layers of support to Team GB athletes, their families and close friends.

"It also offers important opportunities to engage with our partners and supporters, media and to celebrate British Olympians from previous Games.

"We are really pleased to be able to hand over the facility to our colleagues at the BPA following the conclusion of the Olympic Games and we hope it will help British athletes to achieve further inspirational performances during the Paralympics."

As well as providing facilities to directly support British athletes and coaches, Team GB House will also incorporate areas to engage with key stakeholders including Olympic partners, media and supporters.

A friends and family zone will be a key feature of the venue and provide a dedicated space for British athletes to momentarily meet with their loved ones in a safe and secure environment both prior to, and during, the Games.

Tim Reddish, the chairman of the BPA, said: "We are delighted that the BOA has secured such a fantastic site for Team GB House and will generously hand this over to the BPA for our use during the Paralympic Games.

"The facilities on offer coupled with Westfield Stratford City's close proximity to the athlete's village will enable us to take a real step forward in terms of the support that we can offer to the sports and athletes.

"It's a great example of how the BOA and BPA are working collaboratively to maximise the opportunities of a Home Games."

Another key function of Team GB House will be hosting the main operations centre that will act as the fulcrum of Team GB operations, transport and logistics at Games time.

The main operations centre will feed information to members of Team GB on the ground at the Olympic venues to support British athletes and coaches in their quest for performance success and allow the BOA to offer additional performance services to Team GB athletes and support staff, including performance analysis and consultation space, as well as meeting and work space for sports to utilise.

Team GB House will also cater for the BOA's partners, sponsors, key supporters and stakeholders, enabling them to share in the celebration of British success and provide opportunities to honour the distinguished British Olympians from previous Games, including those who represented the country the last time London hosted the Olympic Games in 1948.

To help meet the anticipated huge media demand for Team GB news and interviews, the House will also offer access to British athletes for broadcast and written media just outside of the Olympic accredited zone.

John Burton, director of Westfield Stratford City, said: "We are delighted that Team GB are to be our first Olympic clients here at Westfield Stratford City.

"It is an honour to host the team during 2012 and we are proud to be working with them during this prestigious event.

"We look forward to accommodating the Team GB athletes as well as their friends and family.

"There is plenty to keep everyone entertained within Westfield Stratford City and our world-class hospitality facilities will provide the perfect respite from the crowds."

The BOA will begin to move into the site in early 2012 to commence fitting out and testing systems before opening for Team GB in early July 2012.

Meanwhile the £1.45 billion ($2.3 billion) Westfield Stratford City, which opens on September 13 this year, will be the largest urban shopping centre in Europe at 1.9 million square foot.

As the prestigious gateway to the Olympic Park, Westfield Stratford City will see 70 per cent of all spectators travel through the scheme en route to the Park while the development includes 300 shops, over 70 food and beverage offers, three hotels, a 17-screen Vue cinema, bowling and a casino.

Contact the writer of this story at [email protected]