Desco's £1bn Project Olympia gets planning approval
Desco working in collaboration with Heatherwick Studio, SPPARC Architects and Pell Frischmann, the site’s owner has received planning approval for the £1bn Olympia London transformation of the iconic 132- year- old landmark into an arts, entertainment, events and creative business quarter.
The 186,000m² project, which was submitted for planning last October, is backed by Yoo Capital, which jointly owns the 132-year-old building with Deutsch Finance. The project will completely revamp the existing exhibition halls, as well as adding 51,000m² of offices, studios and co-working space for ‘the creative industries in art, music and entertainment’.
Billed as creating a new ‘cultural hub’, the plans include a four-screen arthouse cinema, a 1,000-seat performing arts space, a 1,500-seat theatre, 900m² of performance and rehearsal space, and a new jazz club-style restaurant and venue. There are proposals too for extra shops, cafés, hotels and new public space including pedestrianised squares and a sky garden with the historic façades on Olympia Way fully restored whilst spaces such as the Pillar Hall are opened up to the public.
The exhibition centre was built in 1886 as the National Agricultural Hall to designs by architect Henry Edward Coe. Today it is the venue for more than 220 exhibitions and events each year, including the Olympia Horse Show and Stylist Live. Buildings on the site were listed in 2003.
The latest plans were lodged with the London Borough of Hammersmith and Fulham after 14 months of consultation. The team submitted three applications: the main masterplan; an outline application for the pedestrianisation and development along Olympia Way, and a listed building consent.
Ken Beall, Desco’s Board Director responsible for Central London Office, said of the news “We are absolutely delighted that the project has received planning consent, it’s a very exciting and high-profile project to be part of, and the planned transformation is set to enhance the 14-acre site into a destination location that everyone can appreciate and enjoy. The project will secure the legacy of this iconic site, it will also create job opportunities and generate increased consumer spending in the Hammersmith & Fulham area.”
Marco Ambelez, Technical Director at Desco added, “Working on the designs for the £1bn Olympia Regeneration have been a privilege. Having led the design of the energy strategy and site wide services successfully through planning is exciting news, now we can look forward to the next phases of the project”
The transformation will get underway in 2020, with the first tenants moving in by 2023. According to the site’s owners, YOO Capital and Deutsche Finance International, the venue is in advanced talks with some of the biggest names in entertainment and hospitality about taking space on the enhanced site. The first commercial partners will be announced in spring 2019.
Ken Beall, Desco’s Board Director responsible for Central London Office, said of the news “We are absolutely delighted that the project has received planning consent, it’s a very exciting and high-profile project to be part of, and the planned transformation is set to enhance the 14-acre site into a destination location that everyone can appreciate and enjoy. The project will secure the legacy of this iconic site, it will also create job opportunities and generate increased consumer spending in the Hammersmith & Fulham area.” Marco Ambelez, Technical Director at Desco added, “Working on the designs for the £1bn Olympia Regeneration have been a privilege. Having led the design of the energy strategy and site wide services successfully through planning is exciting news, now we can look forward to the next phases of the project”