Trafalgar Entertainment to take 70-year rental of Olympia theater
Yoo Capital and Deutsche Finance International have announced a major agreement with Trafalgar Entertainment, an international live entertainment company, to manage the site’s new 1,575-seat theater. The theater will be the largest permanent new theater of its kind to open in London since the National Theater in 1976.
The Olympia Theater deal is part of Trafalgar Entertainment’s larger ambition to create a venue of national stature as the UK enters a new era. Like its neighbor, the Royal Albert Hall, it is destined to become an emblematic place of the 21st century. Trafalgar has long recognized the transformative power of culture in creating great places, with the country’s landmarks being integral to cities’ new dynamism and civic self-confidence.
The venue Olympia breaks new ground in theater design with a stunning, state-of-the-art 1,575-seat auditorium designed by award-winning theater architects Haworth Tompkins. With Trafalgar Entertainment’s unique experience in theatrical operations and the complex demands of modern productions, the theater offers the very latest innovations in technical facilities.
The expectations of modern audiences have also been anticipated; with a stacked auditorium design, which means every comfortable seat will feel close to the stage, and the audience can additionally enjoy the highest ventilation standards throughout the theater. The spacious, glass fronted areas of the house offer stunning views of London, making a visit to the theater a unique and memorable experience. Visitors will enjoy a first-class bar, hospitality and VIP facilities, reinforcing the central role of this iconic new theater in anchoring the larger redevelopment of Olympia.
Currently under construction, the Olympia Theater is expected to open in mid-late 2025. Trafalgar Entertainment’s lease is for 35 years, with an option to extend for 35 years. They join luxury and entertainment brands AEG Presents, Hyatt and citizenM as anchor tenants of the new 14-acre Olympia redevelopment.
Trafalgar Entertainment beat stiff competition to rent the theater. Theater business leaders and Trafalgar Entertainment co-CEOs Sir Howard Panter and Dame Rosemary Squire are at the forefront of the UK’s cultural recovery. They founded Ambassador Theater Group from scratch and turned it into the world’s largest live theater company while running the company for 25 years of success. Their latest company – Trafalgar Entertainment – is a driving force behind major theater investments in the UK and overseas.
In addition to the new Olympia Theater, Trafalgar Entertainment’s expanded West End theater – the Trafalgar Theater – will open in July with Jersey Boys after a major multi-million pound restoration. Trafalgar Entertainment also recently completed the acquisition of HQ Theaters which operate 12 regional theaters across the UK, as well as the major acquisition and restoration of Australia’s iconic Theater Royal Sydney, which opens with comedy Broadway’s favorite musical, Jagged Little Pill, by Alanis Morrisette, in September.
Olympia’s deal comes at a crucial time for the UK’s creative industries, worth £ 100 billion a year. It is a strong demonstration of investor confidence in the cultural sector as it recovers from the considerable economic effects of the pandemic which has closed most sites for more than a year. Trafalgar Entertainment has shown no signs of slowing down and continues to expand globally in Asia-Pacific, with expectations to enter the US market in the coming year.
Yoo Capital President John Hitchcox said: “Sir Howard Panter and Dame Rosemary Squire have a unique experience of exceptional live entertainment and we are delighted to welcome Trafalgar Entertainment as the last tenants of Olympia. Our Vision is to create a new culture in West London and we have been looking forward to opening the largest new permanent theater in the city for 45 years. It will be a big boost for the city’s entertainment industry and the local economy, offering the best productions for theater lovers and heralding a new era for theater and entertainment in London. “
Trafalgar Entertainment Co-Founder Howard Panter said: “As we look forward to a new golden age in theater, Olympia presents a once-in-a-lifetime opportunity – it’s quite simply one of the most exciting new theaters around. that London has seen for many years and we are delighted to be playing our role as operator. Trafalgar Entertainment is committed to helping bring live entertainment back across the UK: we know audiences are passionate about coming back to the unique magic of live theater. Next month our refurbished Trafalgar Theater will open in the West End, Anything Goes will perform a summer season at the Barbican, and we are launching UK tours of The King and I and The Rocky Horror Show .months, and the Theater Royal Sydney in Australia opening for the first time in five years, we see the powerful force of the theater industry as investors and the public come together to give ge ns what they want – awesome t world class theater. “
Cllr Andrew Jones, Hammersmith & Fulham Economics Cabinet Member, said: “Our ambitious industrial strategy has helped attract the largest new permanent theater to be built in London for over 40 years, creating new jobs for local residents and giving to the youth of the area. more opportunities in the arts. The iconic Olympia site in London is an essential part of our mission to make Hammersmith & Fulham a global hub of culture, STEM (science, technology, engineering and mathematics) and the creative industries. We work with our vibrant theaters, concert halls and art galleries to make H&F a must-see destination. “
Gavin Neilan, Co-Founder and Associate Co-Director of DFI, added: “Olympia is an extremely important and iconic place that has a rich and successful 130-year history, as well as enormous untapped potential. Our vision is to truly unleash this potential by creating a vibrant new cultural, leisure and business hub for London, where visitors and office workers can enjoy a wide range of exceptional experiences and businesses can showcase their products. ‘exciting and high profile occupants already registered, and in particular, the addition of Trafalgar today as a theater operator, clearly demonstrates that our vision to make the next 130 years of Olympia even more successful than the first is shared.
The £ 1.3bn Olympia redevelopment project will create a new cultural hub in West London. Yoo Capital and DFI are also in advanced talks with other potential occupants, with keen interest in the development’s four-screen arthouse cinema, restaurants, shops, cafes and 550,000 square feet of office and d collaborative workspace. The project designed by Heatherwick Studio and SPPARC will also see the enhancement of existing showrooms and the creation of 2.5 acres of new public space.
CBRE and Cushman & Wakefield are joint leasing advisers. The redevelopment of Olympia is expected to open in 2024.