Olympia exhibition
centre is expected to be sold for more than £300 million following speculation
it has been listed for sale by owner Capital Counties (Capco) this week.
The venue, which
reported a growth of 200 per cent in events in 2015, is reportedly being sold
alongside an adjacent site with planning permission for a hotel and 90 flats,
though Capco is yet to confirm the sale.
In
a press statement the company said: “Following the
successful transition of shows from the former Earls Court Exhibition Centres
and a major refurbishment programme, Capco confirms that it is conducting a
strategic review which may or may not lead to a sale of its Venues business.
“Any
further announcements will be made as appropriate.”
News outlets are
reporting estate agent CBRE and investment banking firm Rothschild have been
appointed to market the venue.
Olympia’s value
increased by 25 per cent to £265m following £45m in refurbishments in 2014, up
from £211m in December. The venue attracts 2.5 million visitors and more than
100 shows a year.
Olympia was rated
the best venue for new show launches in a survey of event planners this year,
while the venue underwent £45 million in refurbishments in 2014.
Notable events it
has hosted include The Meetings Show, Live Nation and Easyfairs.