Posted On February 25, 2019 By Mike Wood
Green Light for £1bn Olympia London Plans
Planning permission granted to transform iconic 132-year-old landmark into an arts, entertainment, events and creative business quarter.
Already home to more than 200 events and welcoming 1.6 million visitors every year, Olympia London has been involved with the arts for generations and housed one of London’s first cinemas. Planners have now approved a £1bn project to turn Olympia London into a world-leading cultural hub with leading hotels, restaurants, performance venues, state-of-the-art office space and 2.5 acres of new public space.
“We are delighted to announce that planning approval has been granted for our £1bn transformation of Olympia London and look forward to working with our partners to support the exhibition business and unlock the tremendous potential within the iconic estate.”Gavin Neilan Co-Founding Partner, DFI
© AVR London Ltd 2018
YOO Capital and Deutsche Finance International – which own the historic exhibition centre – have appointed award-winning architect practices Heatherwick Studio and SPPARC to lead the design and implementation of the project. G&T is providing cost management services.
The project will upgrade all existing spaces in the complex to turn Olympia London into one of the world’s top exhibition and event spaces. New features of the project will include 670,000 sq ft of creative office space including co-working space, 30+ food and drink outlets, 1,500-seat theatre, 1,000-seat performing arts venue, two hotels, a four-screen cinema, a 200,000 sq ft logistics centre, 650 cycle spaces and 181 car spaces.
“Not only is this great news for London – it’s also an example of a British project with European investment creating jobs and opportunities in spite of the current economic and political climate.”John Hitchcox Chairman, Yoo Capital
© AVR London Ltd 2018
The transformation will begin from next year, with the first tenants moving in by 2023. The project is expected to create more than 3,000 new construction jobs over the next five years in addition to approximately 5,400 new jobs for the borough when it is completed. It is also expected to bring in an extra £9m per year in consumer spending to Hammersmith & Fulham.
Find out more in our project case study.