DFI e Yoo Capital ottengono da Goldman Sachs un finanziamento di £875mn per la trasformazione dello storico building “Olympia London” in nuova destinazione culturale e leisure : un progetto da 1,3 bn

Deutsche Finance International and Yoo Capital have agreed a £875 million development loan facility with Goldman Sachs Merchant Banking Division, to part finance the development to transform Olympia London into a world-leading cultural destination. Following the loan agreement and with the addition of equity backing already in place from German institutional investors Bayerische Versorgungskammer (BVK) and Versicherungskammer Bayern Group (VKB), the £1.3 billion Olympia regeneration project is now fully funded.

With the main construction contract expected to be awarded imminently, initial construction work on the Olympia project, which is designed by Heatherwick Studio and SPPARC architects, is due to begin this quarter. The masterplan will see the full redevelopment of the 14-acre site, including the existing exhibition halls, with 1.3 million sq ft of additional commercial space being created. Aimed at maximising the deep-rooted brand heritage of this 134 year old, world renowned venue, the transformational development will be undertaken in such a way that the exhibition space will remain fully operational throughout.

With an ambition to create a cultural hub in west London and transform Olympia into a round-the-clock leisure and entertainment destination, the development plan also includes a four-screen arthouse cinema, a 1,400-seat performing arts theatre, a 4,100-capacity music venue, a “jazz club style” restaurant and venue, shops, cafés, two hotels and 2.5 acres of public space, including pedestrianised squares and a sky garden.

Source : Joint  release