Exhibition News March 2019 - Page 9

News “This is a betrayal for the city – it’s the second time that Glasgow has had its rail link project axed by the SNP. Glasgow is one of the few cities of its size that does not have a dedicated rail link to its airport.” £1bn Olympia upgrade approved by planners The £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 historic 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. 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. Glasgow Labour leader Frank McAveety, after Glasgow council cancelled plans for a link between the city centre and airport. 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 Chairman of YOO Capital John Hitchcox said in a statement: “Not only is this great news for London – it’s also an example of a British project with European investment creating jobs and opportunities.” £1.7m pledged by Central Hall Westminster to charity after recording highest ever turnover £3.4bn predicted value of deals which took place at 2018 World Travel Market in November 3,000 capacity of new venue Exhibition, which is set to open at Westfield London in 2019 value of Informa’s Life Sciences Media Brands Portfolio, sold to MJH Associates £76.6m £31.5m ITE Group’s revenue in the last quarter of 2018, according to trading update 15,000sqft The size of planned expansion to newly rebranded DRPG’s Worcestershire HQ March — 09