Capital and Counties Properties sold its conference venue, Olympia London Exhibition Centre, to a consortium of German institutional investors for £296M. The site is on a prime 14-acre site in West London, and the acquisition includes 3.9 acres of additional land available for hospitality, leisure and residential development.
Capco originally purchased the 130-year-old exhibition and events venue in 2009 and invested £30M. Under Capco’s ownership, the venue hosted about 200 shows per year, equating to about 1.6 million visitors.
Capco said it would use the funds to pay down debt and invest in other projects in its core business.
The buyers were Deutsche Finance International, a London-based value-add real estate investment firm, and Yoo Capital, a private real estate investment firm.
Capco was advised by CBRE. The consortium was advised by Norton Rose Fulbright, Deloitte, Langham Hall and JLL.
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