Olympia London

Kensington W14
C1ESG
Commercial development

Key Details

Address
Hammersmith Road, London W14 8UX
Local Area
Kensington
Local Authority
Hammersmith and Fulham
County
Greater London
Country
England
Completion
2024
Use Classes
C1, E, SG
Website

Overview

The £1.3bn redevelopment of Olympia includes a 4,400 capacity live music venue, a 1,575-seat performing arts theatre, a school for the creative arts, 100,000 sq ft of restaurants, bars and eateries, two globally renowned hotels, 550,000 sq ft of offices and 2.5 acres of the new public realm.



The 14-acre site will be completely redeveloped, including the existing exhibition halls, with 1.3 million sq ft of additional commercial space being created.

Aimed at maximising the deep-rooted brand heritage of this 134-year-old, world-renowned venue, the transformational development will be undertaken in such a way that the exhibition space will remain fully operational throughout. With an ambition to create a cultural hub in west London and transform Olympia into around-the-clock leisure and entertainment destination, the development plan also includes a four-screen arthouse cinema, a 1,400-seat performing arts theatre, a 4,100-capacity music venue, a “jazz club style” restaurant and venue, shops, cafés, two hotels and 2.5 acres of public space, including pedestrianised squares and a sky garden.

Yoo Capital Management acts as UK Co-Investment Partner and Asset Manager and serves on the Board of the Company.

History

Olympia National was built in 1923 by Holman and Goodrham. Olympia Central in 1929 by Joseph Emberton. The buildings were listed as Grade II in 2018 (listed entry 1456674).

2021 May - Demolition of Olympia Central begins. Work is beginning on a total of seven new buildings – including the previously announced citizenM and Hyatt Regency hotels, plus the 4,400 capacity live music venue that will be run by AEG Presents – and will be completed in 2024.

Trafalgar Entertainment is confirmed as the tenant of the site’s new 1,575-seat theatre, agreeing a 70-year lease.

2020 March - Deutsche Finance International and Yoo Capital have agreed a £875 million development loan facility with Goldman Sachs Merchant Banking Division, to part finance the development to transform Olympia London into a world-leading cultural destination. Following the loan agreement and with the addition of equity backing already in place from German institutional investors Bayerische Versorgungskammer (BVK) and Versicherungskammer Bayern Group (VKB), the £1.3 billion Olympia regeneration project is now fully funded. With the main construction contract expected to be awarded imminently, initial construction work on the Olympia project, which is designed by Heatherwick Studio and SPPARC architects, is due to begin in the 1st quarter of 2020.

2017 April - CAPCO sells its exhibition business, comprising Olympia London together with certain related property assets, for a total gross cash consideration of £296 million.

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Site & Location

Kensington Olympia underground station (District Line) is right next to the site.

Team

Company
Type
Year
Developer
Architect
Surveyor
Architect
Leisure Operator
Main Contractor
Demolition Contractor
- 2022
Programme Manager

Timeline

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Disclaimer

Information on this page is for guidance only and remains subject to change. Buildington does not sell or let this property. For more information about this property please register your interest on the original website or get in touch with the Connected Companies.