Work on £1bn redevelopment set to start next year

The race to redevelop the Olympia centre in west London is believed to be a straight fight between Mace and Laing O’Rourke, Building understands.

The £1bn scheme was approved by the local council in January and has been designed by Heatherwick Studio and SPPARC.

Mace was understood to be negotiating the job as the sole bidder but was joined by Laing O’Rourke in chasing the scheme a few weeks ago.

One source said: “Mace was in the box seat on this but one of the consultants wanted to get someone else involved so O’Rourke has come along. They’re not there to make up the numbers so it’s a proper competitive tender.”

The 186,000 sq m scheme involves building two theatres, as well as two hotels, a four-screen cinema, a rooftop park and other restaurant space.

Four original exhibition spaces, dating from 1886, will also be modernised under the plans.

Enabling works will begin this year, with main construction work starting in the first quarter of 2020.

The consortium has already appointed Gardiner & Theobald as quantity surveyor, Desco as M&E consultant and Pell Frischmann as structural engineer.

The scheme is being developed by a consortium of investors, led by the owners of Olympia – Yoo Capital and Deutsche Finance.

Olympia 1

How the Heatherwick scheme will look when completed