Yoo Capital and Deutsche Finance International are shortly to announce they have secured a £900m loan for their £1bn redevelopment plans for Olympia.
They should also soon announce their choice of construction partner with a view to beginning work in 2020. CoStar report that the scheme,
which will produce 670,000 sq ft of offices, studios and co-working space targeted at the creative industries, is now funded.
which will produce 670,000 sq ft of offices, studios and co-working space targeted at the creative industries, is now funded.
Key features of the project include: A 1,500-seat theatre; 1,000-seat performing arts venue; two hotels; a four-screen cinema; 670,000 sq ft of creative offices, including co-working space; upgrades to the existing spaces to turn Olympia London into one of the world’s top exhibition and event centres; a 200,000 sq ft logistics centre.
The developers say the development will create 3,000 construction jobs over the next five years, and 5,400 jobs across the local area upon completion.
