Leading brands take on two hotels and live music venue in redeveloped site.
Tenants for the state-of-the art live music venue and two hotels are set to move into the transformed Olympia London in 2023 as part of the part of the venue’s elevation into a world-leading cultural destination.
The three major pre-let agreements with leading names in entertainment and hospitality are the first occupiers to commit to the landmark scheme. Global hotel group Hyatt, affordable-luxury, boutique hotel chain citizenM, and live entertainment company AEG Presents, have all signed long-term agreements to operate out of the west London venue.
Key tenancy details include:
• The 5* Hyatt Regency London Olympia will have 196 rooms and suites with a bar and deli and will be connected to a new restaurant
• citizenM’s fifth London destination will feature 145 rooms, three societyM rooms and a unique interpretation of the citizenM Living Room
• A 4,400-capacity state-of-the-art, purpose built live music venue, to be located above the existing west exhibition hall, will be run by AEG Presents, the world-leading global music and live entertainment company
The £1.3 billion Olympia London redevelopment project will create a new cultural hub that includes a four-screen arthouse cinema, 1,500-seat theatre, live music venue, restaurants, shops, cafés, two hotels 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 event spaces and 2.5 acres of new public space created.
Feedback from event organisers, exhibitors and visitors helped guide the plans for this transformation project. It will be a huge boost to event organisers and their customers who asked for hotels along with pre and post-event entertainment and restaurants at the venue located in Central London. Event organisers will also benefit from enhanced show spaces and facilities as well as a new state of the art logistics centre to make build up and break down of shows more efficient. There will also be greater potential for on-the-day ticket sales for consumer events due to increased footfall from the many onsite attractions pulling in visitors from all over the country.
The development is set to boost to the local economy and help keep London as a preferred events destination in Europe.
Nigel Nathan, Managing Director of Olympia London, said: “We’re incredibly excited to have these fantastic brands joining us as our new onsite neighbours. Collectively we’re creating richer experiences and more opportunities for all our customers and visitors that we host at our iconic London venue.”
Chairman of YOO Capital John Hitchcox said: “It’s been a challenging year for the events, live entertainment, retail and hospitality sectors – but having these three partners on board is a real positive for London and a clear indication of confidence in both the city and this iconic landmark as a destination for culture and creativity. It will give a real boost to the local economy, bringing in an extra £9m per year in consumer spending to Hammersmith & Fulham, so we are very pleased to be taking another big step towards the realisation of a new vision for this area.”