Capital & Counties eyes sale of £300m Olympia exhibition centre
The Olympia exhibition centre in West London is being prepped for a £300m sale by its owners Capital & Counties (Capco).
The FTSE 250 property company, which is behind the £8bn regeneration of Earl’s Court, confirmed it has hired agents at CBRE and investment bank Rothschild to explore options for the events venue.
“Following the successful transition of shows from Earls Court and a major refurbishment programme, Capco confirms it is conducting a strategic review in relation to Olympia London which may or may not lead to a sale of the business,” a spokesperson told City PM
Olympia first opened in 1886 as the National Agricultural Hall with the aim of hosting agricultural shows. Capco took control of the site five years ago after buying an initial 50 per cent stake in 2007.
The venue, which has hosted events including the London International Horse Show, jumped by 24.6 per cent in value in the first half of the year to £265m, according to Capco's latest results. The company will update the market again on Tuesday.