Mon, 10/04/2017 - 09:10
A joint venture of institutional investors led and advised by Deutsche Finance International (DFI) and Yoo Capital (YC) has acquired the Olympia London Exhibition Centre from listed London property company Capital & Counties Properties (Capco).
The total purchase price for the acquisition was GBP296 million.
Olympia London is a 130 year’ old exhibition and events business, which is situated on a prime 14 acre freehold site in West London. Each year Olympia welcomes more than 1.6 million visitors and hosts over 200 inspiring events utilising its seven connected and flexible spaces. The acquisition also involves 3.9 acres of freehold land available for hospitality, leisure and residential development.
The joint venture includes Bayerische Versorgungskammer (BVK), the Versicherungskammer Bayern Group (VKB), DFI European Value Add Fund (DFI Fund) and YC, as UK co-investor and asset manager.
“We are delighted to have completed the Olympia London transaction. We see tremendous long term potential in the 14 Acre estate and an opportunity to grow Olympia’s status as a world-class exhibition and events venue working with the existing management team and our partners to enhance the customer experience through expansion of the retail, leisure and hotel offerings. We would like to acknowledge and thank the outstanding support we received from our lender Legal & General and all our advisers,” says Gavin Neilan, co-managing partner of DFI.
Yoo chairman and global property entrepreneur John Hitchcox says: “We are delighted to partner on such an exciting investment. We will work closely with Olympia management to ensure Olympia continues to represent the very best in world-class exhibition space for Central London and the UK. We plan to provide a detailed update on our plans and work with local stakeholders in the second half of 2017.”
The consortium was advised by Norton Rose Fulbright, Deloitte, Langham Hall and Jones Lang LaSalle.
Fri 18/01/2019 - 09:43
Fri 18/01/2019 - 07:03
Thu 17/01/2019 - 10:00
Thu 17/01/2019 - 09:56
Thu 17/01/2019 - 09:36
Fri 18/01/2019 - 07:27
Fri 18/01/2019 - 07:13
Thu 17/01/2019 - 10:01
Thu 17/01/2019 - 08:57
Wed 16/01/2019 - 09:34