LONDON, June 14 - London's preparations for the 2012 Olympics received a glowing report from the International Olympic Committee (IOC) at the conclusion of a three-day inspection visit on Thursday.

Since the IOC's Coordination Commission was last here more than 12 months ago, London organisers have been hit by the resignation of Jack Lemley, political sniping, escalating budgets and a furore over its new logo, but the Commission had nothing but praise.

"We reviewed all aspects of the preparation and we are very happy to say that thanks to sound planning and consistency of vision, LOCOG has laid very solid foundations for the work coming in the next five years," Commission head Denis Oswald told reporters.

"We don't have any specific area of concern and compared to other organising committees, London is on time and on track."

Swiss Oswald, an IOC member since 1991, said London was staying true to the "lasting legacy" promised by organising committee chairman Sebastian Coe during the bidding process.

"We consider London will be a model for future host cities," he said after three days of presentations and tours.

"We have no reason to doubt the legacy will be a success because the two things are linked.

"We need regeneration to make the Olympic Park and to have the sporting success we need the Olympic Park. If it's a sporting success it will automatically leave a legacy."

Oswald urged London to keep its foot on the gas before the Commission returns next year, by which time construction of the main venues should have started.

"They need to keep the pace and the enthusiasm...there is fantastic enthusiasm," he said. "Unless something totally unexpected happens I think we will have a fantastic Games."

His comments echoed those of IOC president Jacques Rogge who was quoted in Thursday's Daily Telegraph as saying London was ahead of any other host city at a similar stage.

Earlier on Thursday, 2012 organisers announced the completion of the first major construction project on the east London site -- two six-km tunnels that will bring in power cables to the Olympic Park.