Olympia London, the famous exhibition site in West Kensington, is to see a £1bn transformation, according to its owners, Yoo Capital and Deutsch Finance.
The project will see the creation of a hotel, a theatre and suite of new entertainment venues within the Victorian exhibition hall. There will also be museums, co-working spaces and restaurants.
The aim of the investment firms is to transform the 130-year-old exhibition hall into a 'world-leading arts, entertainment, exhibition and experiential district'.
Built in 1886, Olympia currently hosts 220 exhibitions and events annually, such as London Design Festival trade fair 100% Design.