Shubert Organization takes 50 percent stake in new 1,575-seat Olympia Theatre

Broadway’s largest theatre owner is stepping back into London in a major way. The Shubert Organization has acquired a 50 percent stake in the new 1,575-seat Olympia Theatre, a flagship venue set to open next year as part of the £1.3 billion redevelopment of the Olympia exhibition and events precinct in west London.

Shubert, which owns 17 Broadway houses and two Off-Broadway venues, will co-own and operate the theatre with Trafalgar Entertainment, Britain’s second-largest theatre owner. The pair will jointly hold a 70-year lease on the venue, which will be the biggest new playhouse to open in the capital since the National Theatre debuted on the South Bank in 1976.

The move marks Shubert’s most significant London investment in more than a century. The company previously ran the Waldorf Theatre in the West End from 1905 to 1909. “This is an extraordinary opportunity for Shubert to be part of shaping the future of London’s cultural landscape,” said Robert E. Wankel, chairman and chief executive of the Shubert Organization.

Jeff Daniel, president of Shubert, said the partnership reflects a globalised theatre ecosystem. “Theatre making is an increasingly global endeavour and the connection between Broadway and London has never been stronger. Our investment in the Olympia Theatre reflects Shubert’s deep commitment to world-class storytelling, wherever it takes place.”

Trafalgar Entertainment, founded in 2017 by Sir Howard Panter and Dame Rosemary Squire, will add the Olympia Theatre as its 21st venue across London, the UK and Australia. “For Trafalgar Entertainment to have such an important company as the Shubert Organization with us operating the exceptional new Olympia Theatre creates an appropriately global and exciting partnership,” said Panter, who serves as joint chief executive and creative director. “With the scale and the quality of the exceptional new Olympia Theatre it is a real boost for UK theatre to have such an important company as Shubert partnering on it 50,50 with Trafalgar.”

Designed by a team led by architectural studio Haworth Tompkins, the Olympia Theatre anchors a wider precinct plan that includes a concert hall, conference spaces, hotels, offices and a school. Further programming and opening details are expected to be announced closer to launch.