Yoo Capital and Deutsche Finance International (DFI) – together the investors in and developers of the cultural regeneration of Olympia – today announce two major project milestones. Demolition of Olympia Central begins, signifying the start of the main construction work, as Trafalgar Entertainment is confirmed as the tenant of the site’s new 1,575-seat theatre, designed by Heatherwick Studio.
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. Olympia Central Hall will be demolished while the iconic strucutres of Olympia National and Olympia Grand, both Grade II listed, are being incorporated into the site’s overall redevelopment and will continue to host events while works are taking place.
Utilising Laing O’Rourke’s Design for Manufacture & Assembly capability, the buildings’ walls and floors, and a large proportion of their M&E services, will be manufactured offsite in a factory. This will significantly reduce the number of vehicle movements and operatives on site while at the same time improving safety by taking construction activities into a controlled factory environment. The 14-acre Olympia redevelopment project will create a new cultural hub in West London.
Yoo Capital and DFI are continuing advanced talks with other potential occupiers, with strong interest being shown for the development’s four-screen arthouse cinema, restaurants, shops, cafés and 550,000 sq. ft of office and co-working space. The Heatherwick Studio and SPPARC-designed project will also see the enhancement of the existing exhibition halls and 2.5 acres of new public space created. Source by Yoo Capital and DFI AND Images Courtesy of THREESIXTYCOMMS.