New London Live Music Venue, Part Of Olympia Renovations

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London will be getting a brand new music venue as part of the renovations of the Olympia exhibition centre.

In 2017, Olympia was acquired by Yoo Capital and Deutsche Finance International for €330 million. The Olympia is now set to undergo a £1.3 billion renovation that will conclude in 2024.

Yesterday, the developers announced a number of new tenants moving into the complex, including a new live music venue run by AEG presents, who are the promoters behind Coachella and British Summer Time festival at Hyde Park. AEG also operates the Indigo at The O2, and the Eventim Hammersmith Apollo.

The venue, described as “state-of-the-art, purpose-built live music venue”, will be located above the Olympia west exhibition hall, and will open in 2023.

CEO of AEG Presents, Steve Homer said “This is a very exciting opportunity. Olympia is steeped in British music history as far back as Jimi Hendrix in the 60s. AEG Presents are delighted to be part of the new development and we plan to create more iconic shows for London audiences.”

The Olympia exhibition centre – opened in 1886 – has previously hosted gigs from the likes of The Jimi Hendrix Experience, The Cure, Bloc Party and The Chemical Brothers.

In addition to the live venue, two hotels will be moving in operated by Hyatt and citizenM respectively.

John Hitchcox, chairman of Yoo Capital, said “It’s been a challenging year for the events, live entertainment, retail and hospitality sectors – but having these three partners on board is a real positive for London and a clear indication of confidence in both the city and this iconic landmark as a destination for culture and creativity.”

“The Olympia project will give a real boost to the local economy, bringing in an extra £9m per year in consumer spending to Hammersmith & Fulham, so we are very pleased to be taking another big step towards the realisation of a new vision for this area.”

A new four-screen arthouse cinema, a 1,500-seat theatre, and other shops, restaurants, and cafe’s might also be coming, with Yoo Capital and DFI announcing that they are in “advanced talks” with other potential occupiers.

Earlier in the year, new details emerged of the new 21,500-capacity London MSG Sphere Venue, that should be coming in 2024.