Project sources confirmed the contractor has taken the job from under the noses of Mace who were originally hot favourites.

Consultant Pell Frischmann has shared the images on the west London project, which is being spearheaded by Deutsche Finance International (DFI) and Yoo Capital (YC).

Work will include revamping the existing exhibition halls and adding 51,000m² of office, studios and co-working space across its site.

The new centre will also house a four-screen arthouse cinema, a 1,000-seat performing arts space, a 1,500-seat theatre, 900m² of performance and rehearsal space, a new jazz club-style restaurant and venue, shops, cafés, hotels and new public space, including pedestrianised squares and a sky garden.

The historic façades of the exhibition centre will be fully restored and spaces, such as the historic Pillar Hall, will be opened to the public.

The revamp is expected to create more than 3,000 new construction jobs over the next five years.

Pell Frischmann’s Division Director of Structural and Civil Engineering, Mike Hitchens, said: “We are excited to be working on the redevelopment of the Olympia estate, with its many challenges it is a real opportunity for us to show what we can do.

“The site has a rich history and is an important landmark for UK industry and the local community – and the project will create the latest go-to destination in the capital with not just an exhibition centre but a wealth of public realm and creative facilities.”