Yoo Capital Secures £925M Senior Refinancing for Olympia Mixed-Use Redevelopment in London
Yoo Capital and DFI have secured approximately £925 million in senior transitional financing for the Olympia mixed-use redevelopment in West Kensington, London, the firms announced April 2. The new facility replaces the existing construction loan at a lower level of leverage and a reduced cost, as the project enters its completion and stabilization phase.
Deutsche Bank acted as sole arranger and lead underwriter for the debt, with anchor syndicate participation from Citi. The facility carries a term of up to five years. Evercore and JPMorgan served as financial advisers to Olympia and its sponsors, while Freshfields LLP acted as counsel to the sponsors and Olympia. Clifford Chance LLP advised Deutsche Bank and Citi.
A 140-Year-Old Venue Transformed Into a Mixed-Use Destination
Olympia is a 14-acre exhibition and events site with more than 140 years of history in West Kensington. Over the past five years, the property has been undergoing one of the largest redevelopments of its kind in Europe, with the goal of transforming it into a mixed-use entertainment, culture, hospitality, and business destination.
Once complete, the project will include over 350,000 square feet of event space across five venues, including a new International Convention Centre capable of hosting more than 300 exhibitions and events annually. Office space at the site will comprise 550,000 square feet of new sustainable workspace, with confirmed tenants including IWG and Premier League Studios, the Premier League's new international content production arm.
Economic analysis by Volterra projects that once mature, Olympia's redevelopment will generate over £600 million in annual Gross Value Added to the UK economy — up from £14 million previously — and attract more than 10 million visitors annually across the destination as a whole.
Hospitality, Entertainment, and Food and Beverage Components
The hospitality component of the project includes two new hotels scheduled to open this summer: a 146-room citizenM and a 204-room Hyatt Regency. The development also introduces two new entertainment venues to London. The British Airways ARC, a 3,800-capacity live music venue operated by AEG Presents, is scheduled to open in June. The British Airways Theatre, a 1,575-seat venue to be operated by Trafalgar Entertainment and The Shubert Organization, is expected to open in 2027 and will be the largest new purpose-built theatre in London in nearly 50 years, since the opening of the National Theatre.
The development will also deliver 30 new restaurants, bars, and eateries spanning 110,000 square feet, with operators including Incipio and D3 Collective expected to open over the summer. A Wetherby Pembridge co-educational senior school, operated by the Inspired Education Group, has already opened within the project. A boutique gym operated by 1Rebel is also part of the destination offering.
Ownership Structure and Financing Background
The Olympia redevelopment is backed by institutional investors and delivered by Yoo Capital and DFI, with Hines recently appointed as investor representative. Yoo Capital, founded in 2010 by John Hitchcox and Lloyd Lee, has invested over £3.0 billion into Central London. DFI is a pan-European private equity real estate firm with offices in London, Munich, Madrid, and Luxembourg, managing over €4 billion in assets under management. Hines is a global real estate investment manager with $91.7 billion in assets under management as of December 31, 2025.
Michael Volkert, CEO of Olympia, commented on the transaction: "Olympia is a truly unique asset with more than a century of history at the heart of London's cultural and events landscape. With this significant redevelopment nearing completion, this financing package provides long-term capital that will help us bring to life a hugely exciting, vibrant new commercial destination that contributes to London day and night, attracting millions of visitors each year."
Development Outlook
With new venues launching from the second half of 2025 and continuing through 2026 and 2027, the Olympia redevelopment is among the most complex mixed-use projects currently underway in Europe. The project was co-designed by Heatherwick Studio and SPPARC, and the transformed destination will be operated by Olympia Estates.
Sources
Yoo Capital — Olympia Secures £925 Million Senior Refinancing for Landmark New London Destination