Yoo Capital and Deutsche Finance International will finance a £600m redevelopment of London’s Olympia exhibition site. Apart from the Olympia National and Olympia Grand, which will be incorporated into the new project, the existing structure will be demolished and replaced with seven new buildings, the main ones being Hyatt Regency and citizenM hotels and a 4,400 capacity live music venue. The 14 acre project was designed by SPPARC and Heatherwick Studio and will include 51,000 square metres of office and co-working space, shops, a four-screen arthouse cinema, cafés, restaurants and 2.5 acres of public space.
Laing O’Rourke, a developer, has been enabling the site during the last year and will now move to the demolition stage. It will excavate approximately 80,000 cubic metres and will employ modular building techniques with most of the structure being manufactured offsite. It expects to use 13 tower cranes and 10 hoists.
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