Key facts
- Olympia's £1.3 billion redevelopment is expected to inject over £600 million into the UK economy.
- The project is forecast to attract 3.5 million annual visitors.
- The transformed venue will include a 4,000-capacity music venue, a 1,575-seat theatre, and two international hotels.
- The redevelopment is led by Yoo Capital and Deutsche Finance International.
- The project is designed by Heatherwick Studio and SPPARC.
- Olympia has been a London cultural site since opening in 1886.
The landmark £1.3 billion redevelopment of Olympia, London’s historic exhibition venue, is set to inject more than £600 million into the UK economy, according to new socioeconomic analysis by economic consultancy Volterra. The project aims to reinforce Olympia's role as a major driver of growth in the UK’s creative and tourism sectors. The analysis highlights Olympia’s substantial impact, echoing the Mayor of London’s Growth Plan which identified the venue as an internationally significant visitor destination. It is forecasted to directly attract 3.5 million annual visitors to its event spaces, new hotels, and performance venues. Including local residents, workers, and general visitor footfall, the total annual footfall is expected to reach approximately 10 million. Yoo Capital and Deutsche Finance International are leading the transformation, which is designed by Heatherwick Studio and SPPARC. The revamped destination will feature a new 4,000-capacity music venue operated by AEG Presents, a 1,575-seat theatre led by Trafalgar Entertainment, two international hotel brands (citizenM and Hyatt Regency), a boutique fitness venue by 1Rebel, and 550,000 sq ft of premium office spaces. Over 30 hospitality outlets are confirmed, with operators including Incipio and D3 Collective. A 2.5-acre public space with year-round programming and Wetherby Pembridge, a new co-educational senior school, are also included. These new facilities will surround Olympia’s historical event spaces, managed by Olympia Events. The venue has been a part of London's culture since opening in 1886, with its architecture and heritage attracting significant events.