Yoo Capital joins our 'Cultural Cities' January forum
CGI of proposed sky garden level at Olympia London (SPPARC)
We are delighted that Yoo Capital's Managing Partner, Lloyd Lee, will join our discussions on 'Cultural Cities' with the V&A East and Historic England on 27 January.
An announcement has been made over the first occupiers around the regeneration of Olympia London into a world-leading cultural destination. Four years ahead of completion with construction work already underway at the 14-acre site, live entertainment company AEG Presents, global hotel group Hyatt and affordable luxury lifestyle and hotel brand CitizenM have all signed long term agreements to operate out of the West London venue.
There are also advance talks with other potential occupiers with strong interest being shown for the development's four-screen arthouse cinema, 1,500-seat theatre, restaurants, shops, cafes, hotels and 550,000 sq ft of office and co-working space. The Heatherwick Studio and SPPARC designed project will also see the enhancement of the existing halls and two and a half acres of new public space created.
SPPARC showcased designs for the regeneration of Olympia London at our 'Cultural regeneration and cities' forum at Goldsmiths' Hall in the City of London in April 2019, describing how the 'piecemeal development of London Olympia has resulted in a site which is disconnected from the surrounding area', while the proposals seek to remedy this issue 'by allowing Olympia to reconnect with its neighbours and giving the public access to the site...A newly pedestrianised Olympia Way will turn a vehicle-dominated space, into a high-quality environment...containing a mix of uses including shops and cafes which will be open to the public all year round - a vibrant and active hub for the local community.'
Cllr Stephen Cowan, Leader of the London Borough of Hammersmith & Fulham said:
'Olympia is a crucial part of our mission to make Hammersmith & Fulham a global hotspot in STEM industries, the arts, fashion and culture, that is already bringing some of the best careers and start-up opportunities to our residents' doorsteps - something that will continue for generations to come.'
AEG commented on the exciting opportunity that the development presents, noting how the site is steeped in British music history from the 1960s, while Yoo Capital's Lloyd Lee recognised the 'incredibly challenging times' and acknowledged the commitment of industry professionals 'who have worked with us tirelessly every day to achieve this next major milestone and keep us on track to bring Future Olympia to life in less than four years from today.'
Yoo Capital and partner firm Deutsche Finance International, are the investors in and developers of the £1.3 billion regeneration of Olympia London into a world-leading cultural destination. Lloyd serves as the Managing Partner of Yoo Capital Management with overall responsibility for the firm's investment strategy as well as for originating and negotiating its major transactions. He also chairs the firm's Investment Committee.
Lloyd has over 24 years' experience in real estate private equity and principal investing and has been involved in £12 billion of real estate acquisitions, public and private corporate opportunities, special situations and asset management turnarounds across the UK, EU, US and emerging markets in Turkey, India and Latin America. He has been a fundamental investor in real estate on behalf of major institutional public and private investors since 1998.
Future Cities Forum will be discussing the development of cultural districts post Covid-19, their importance to employment, tourism and community well-being in a year where most cultural institutions have had to close their doors but the UK government has offered funding to support - among other concerns - wages and refurbishment.
Below - Lloyd Lee, Managing Partner, Yoo Capital Management