West Ham secures Olympic stadium tenancy
by Tom Walker | 22 Mar 2013
West Ham United Football Club (WHU) will be the new anchor tenant of the London Olympic Stadium following the government's agreement to contribute a further £25m towards converting the venue.
WHU was chosen as the preferred bidder for the tenancy in December 2012 but the signing of the deal was dependent on a number of financial and commercial terms being agreed upon.
It is believed that as part of the negotiations, WHU has also agreed to increase its contribution towards the conversion project from £10m to £15m.
The deal means that the proposed conversion of the stadium - which involves reducing the seating capacity from 80,000 to around 55,000 to 60,000 - can now go ahead.
The redevelopment of the venue and the planned use of retractable seating will allow the stadium to operate as both an athletics and football arena.
WHU has signed a 99-year lease for the venue and is hoping to move into the stadium in time for the 2016-17 season.
Karren Brady, WHU vice chair said: "A capacity of at least 54,000 seats will place WHU among the top five attended clubs in the Premier League.
"In addition, we would be moving to one of the best connected stadiums in Europe, set in its own parkland with world class facilities. The move will provide an opportunity to improve our fortunes on every level including opening doors to new revenue streams."
West Ham United Football Club (WHU) will be the new anchor tenant of the London Olympic Stadium following the government's agreement to contribute a further £25m towards converting the venue. WHU was chosen as the preferred bidder for the tenancy in December 2012 but the signing of the deal was dependent on a number of financial and commercial terms being agreed upon. It is believed that as part of the
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by Megan Whitby | 19 Jan 2024
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by Liz Terry | 11 Jan 2024
Huafa Snow World, a 131-hectare sport and entertainment destination in Shenzhen, China, designed by architecture firm, 10 Design is slated to open in 2025. The development is anchored by a 80,000sq m indoor ski resort, currently expected to be the largest of its kind in the world when it opens. Huafa Snow World will have a balance of retail, entertainment, commercial, hospitality, civic and cultural elements with the aim of
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by Megan Whitby | 05 Jan 2024
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by Kath Hudson | 04 Jan 2024
Janu, the new hotel brand from luxury operator Aman, is gearing up to launch its first location this March in Tokyo. The property will feature one of the city's largest gyms. Part of a 4,000sq m state-of-the-art wellness centre, the 340sq m gym will feature five group exercise studios for spinning, aerial yoga, golf simulation, functional training, Pilates and high-impact circuit training, as well as the first boxing ring in
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by Kath Hudson | 29 Dec 2023
Universal Studios is assessing the feasibility of opening its first European resort in the UK, following the purchase of a former brickworks in Bedfordshire. The theme park operator has confirmed it’s in the “very early stages of exploring the possibility of a potential park and resort experience in Bedford.” Parent company, Comcast Corporation has purchased the 480-acre site, which previously had planning permission for 1,000 homes. Universal Destinations and Experiences
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The King of Bhutan has announced plans for a new economic hub immersed in nature and designed by architecture firms Bjarke Ingels Group (BIG), Arup, and Cistri. Referred to as the Mindfulness City, the masterplan for the future Gelephu Special Administration Region (SAR) is informed by Bhutanese culture and its strong spiritual heritage, as well as the country's Gross National Happiness (GNH)* index. The goal is for the SAR to
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by Kath Hudson | 18 Dec 2023
KSL-owned Third Space has unveiled its latest club in Wimbledon, south-west London. The development marks the first of many forays into residential locations for the operator, following the recent securing of a loan facility of £88.5m. This is the ninth club from the premium fitness operator which has four further openings slated for residential areas of London in the next two years: Battersea, Clapham Junction and Wood Wharf in 2024
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