OLYMPIC bosses are inviting companies to bid to turn an alleged 'eyesore' into a visitor attraction after the Games.

Wanstead residents say the 114-metre ArcelorMittal Orbit, being built in the Olympic Park, will be a blot on the landscape.

Criticism has been levelled at the tower's design, and a perceived lack of public consultation about the project.

Last year fears were raised that the Anish Kapoor-designed structure would interfere with television signals in up to 500 homes across Wanstead and Woodford.

The tower will cost £22.3 million, with the steel magnate Lakshmi Mittal set to pour in £19.2 million while the London Development Agency will contribute £3.1 million.

Work on the tower began in November last year and should be finished in March 2012.

It will be used by the Olympic Delivery Authority from May to October 2012, before being re-opened as a public attraction in May 2013.

Companies interested in running the tower after the Olympics have until January 28 to submit their bids.