A £1b project to turn Olympia London into a cultural hub with new hotels and restaurants has been approved by planners.
Deutsche Finance International and YOO Capital, owners of the historic exhibition centre, submitted a proposal to Hammersmith & Fulham council last summer to transform the 14-acre site.
The plans include two new hotels, restaurants, 1,500-seat theatre, 1,000-seat performing arts venue, four-screen cinema, 670,000 sq ft of office space and conference centre.
Heatherwick Studio and SPPARC have been appointed to lead the design and implementation of the project, which will begin next year. First tenants are expected to move in by 2023.
The new development will create around 5,400 new jobs and, once completed, bring an extra £9m a year in consumer spending to the borough.
Olympia London currently hosts more than 200 events, including the Independent Hotel Show and the Speciality Fine Food Fair, with 1.6 million visitors every year.Get The Caterer every week on your smartphone, tablet, or even in good old-fashioned hard copy (or all three!).