Global investment firms Yoo Capital and Deutsche Finance International spearheading the £1.3 billion redevelopment of London’s historic Olympia, have entered into an agreement with Transport for London to fund additional London Overground services into the site at Kensington (Olympia).
The four-year deal, worth up to £1.1 million a year, will cover TfL’s net costs of operating the additional services on the Clapham Junction branch of the Mildmay line, including driver recruitment and training. Major regeneration schemes such as that underway at Olympia have often been fully unlocked by major improvements into train access into the site, such as developments at Battersea Power Station, Canary Wharf and King's Cross Central.
The investment will add 16 extra trains a day during peak times, which will cover the length of the line in both directions, boosting passenger capacity by almost 20% in the morning peak period and 28% in the afternoon peak period. The improved timetable will come into effect from May 2026.
Lloyd Lee, co-founder and managing partner at Yoo Capital, said in a statement: “Olympia’s transformation echoes the original ambition for this historical venue to bring together the very best of culture, entertainment and innovation, all in one place. We are delighted to have reached this agreement with TfL to support these additional services, and provide additional capacity, which will make travelling to Olympia quicker, easier and more convenient than ever before, ensuring Londoners and visitors alike can experience everything this landmark destination has to offer.”
David Thomas, TfL’s head of concession for London Overground, said: “This agreement with Olympia will allow us to introduce more peak services on the Clapham Junction branch of the Mildmay line from May 2026, increasing capacity and making it even easier for customers to attend the wide range of events planned at the newly transformed destination.
"At TfL, every journey matters and this four-year deal represents a significant investment that will help us deliver the best possible service to our customers.”
Olympia has its own station, plus access to five Tube lines – Central, Circle, District, Piccadilly and Hammersmith & City – within a 15-minute walk. It is located between Heathrow (33 mins), the West End (20 mins) and the City of London (25 mins).
Wetherby Pembridge school, the first of the new venues to launch, has opened this month (September 2026), and more openings are scheduled throughout 2026 and 2027.
One Olympia will comprise 550,000 square feet of offices with some of the largest terraces in London. It will have on-site conferencing facilities for up to 800 people, access to dedicated hospitality spaces and an end-of-journey hub featuring over 950 bike racks and as many lockers, a bike maintenance area, and almost 100 showers with drying and ironing stations. Confirmed tenants include flexible office provider IWG, as well as Premier League Studios, the Premier League’s new in-house international content production arm.
The development will also include two international hotel brands – citizenM and Hyatt Regency - a boutique gym by 1Rebel, 30 bars, restaurants and eateries (with confirmed operators including D3 Collective and Incipio), the largest new theatre in London in 50 years, operated by Trafalgar Entertainment, and a 4,000-capacity music venue by AEG Presents.
Olympia is expected to see an annual footfall of around 10 million people and is forecasted to directly attract 3.5 million annual visitors to its new hotels, and events and performance venues. Once fully operational, it will host around 800 events annually across its venues, building on its 140-year heritage to showcase leading and emerging talent in entertainment, culture, leisure and business.
Olympia is being co-designed by Heatherwick Studio and SPPARC for Yoo Capital and Deutsche Finance International.
A recent interview with the development manager on progress at the site can be found in this recent CoStar review of the UK fit-out market.