Conference News March 2019 - Page 19

19 Big Picture he £1bn plans to turn Olympia London into a multi-purpose cultural hub have been approved by planners. YOO Capital and Deutsche Finance International – which own the 132-year-old exhibition centre – submitted plans to Hammersmith & Fulham Council in 2018 to turn the 14-acre site into a destination with hotels, restaurants, performance venues and 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. The transformation will begin at an unspecified date in 2020, with the first tenants moving in by 2023. The venue says it will not close during the works. YOO Capital and Deutsche Finance International are in advanced talks with stakeholders in entertainment and hospitality about taking space on the site and say they plan to announce the first commercial partners in the spring. The project will create more than 3,000 new construction jobs over the five-year build in addition to approximately 5,400 new jobs for the borough when it is completed. It will also bring in an extra £9m per year in consumer spending to Hammersmith & Fulham. Key features of the project include: • A 1,500-seat theatre • A 1,000-seat performing arts venue • Two hotels • A four-screen cinema • 63,000sqm of creative office space, including new co-working space • Upgrades to the existing spaces • A 18,50sqm logistics centre