With planning permission granted for the proposed £1 billion redevelopment of London’s historic Olympia site into a world-leading cultural hub the project’s developers, Yoo Capital, has appointed PHAR to assess the potential scale of the sponsorship opportunity.
The development will transform the 132-year-old exhibition centre into a 6-hectare arts, entertainment, events and creative business quarter, with over 40 restaurants, two world-class hotels, a 1,500-seat performing arts theatre and 1,000-seat music and events venue, alongside a jazz club and destination restaurant with speakeasy bar, a 18,580 sqm logistics centre and 62,500 sqm of new office space, conference centre and incubator hub. With award-winning practices Heatherwick Studio and SPPARC leading on the design and implementation of the project, Olympia will be set amongst 2.5 acres of new public spaces, squares, roofscapes and pedestrianized streets.
With construction due to commence in 2020 PHAR has been brought in to assess the potential value of the various sponsorship opportunities that could be created across the development, drawing on the evidence of multiple venues, arenas and leisure destinations from across the world.
“Olympia has been the London showcase to the world for thousands of businesses and millions of visitors from all over the world for over 130 years, “ explains Lloyd Lee, Managing Partner of Yoo Capital. “We have hosted the good and the great in innovation, technology, science, entertainment, food, sport and culture. When you come to Olympia, you get to touch the future. As part of a long term strategy to invest and build a genuine community in arts, entertainment and exhibitions, we are creating strategic partnerships through sponsorship with brands which share our vision for the future and wish to join us on a journey of allowing Londoners and the world to experience today what the future will look like tomorrow. It will be an extremely important part of the destination that we are creating, and PHAR’s expertise in sponsorships of this nature is of great value to us in shaping the strategy and informing our plans.”
“The plans for London Olympia indicate one of the most exciting cultural and leisure destinations to be developed in the capital city for many years,” commented Alastair Macdonald, Managing Director of PHAR. “Offering a genuinely multi-play entertainment experience in one of the most exciting district in London, the development will create a wide range of sponsorship opportunities that will be highly for brands. Our report into the size of the opportunity is probably the most comprehensive and wide-ranging of its type that has ever been produced, providing Yoo Capital with the firm evidence and insight it needs to developing strategic planning with substance and confidence.”