Green light for £1bn Olympia London plans

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A £1 billion pound project to turn Olympia London into a “world-leading cultural hub” – which includes a new theatre and performing arts venue – has been approved by planners.

YOO Capital and Deutsche Finance International – which own the exhibition centre – submitted plans to Hammersmith and Fulham Council last summer to turn the 14- acre site into a destination with hotels and restaurants, plus performance venues and state-of-the-art office space.

Heatherwick Studio and SPPARC are leading on the design and implementation of the project, which will also see 2.5 acres of new public space created. Key features of the project include a new 1,500-seat venue and 1,000-seat performing arts venue.

John Hitchcox, chairman of YOO Capital, commented: “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.

“We are proud to announce this plan and press ‘Go’ on a £1 billion pound project that will transform Olympia London into a global force in arts, entertainment, exhibitions and events. We will achieve all of this with minimal disruption to the hundreds of inspirational events that will continue to take place at Olympia London during the transformation.”

Olympia London is home to 200 events and welcomes an estimated 1.6 million visitors per year.