The new London Museum, currently under construction at the historic Smithfield market, has been given a cash injection of £50m by the mayor of London, Sadiq Khan, and the City of London Corporation who have provided £25m each.
The cost of the new museum has risen to £437m in total (the budget was set at £337m in 2019). The mayor’s overall contribution stands at £95m while the City of London Corporation's total funding amount for the new museum is £222m.
“The museum’s new fundraising commitment raises its overall target to £100m with almost half of that—£45m—having already been secured through private donations, sponsors and philanthropy. The museum will explore green loan opportunities to achieve the remaining £20m towards its £437m target,” says a project statement.
The institution, formerly based at London Wall near the Barbican Centre, was previously called the Museum of London. Described as “one of Europe's largest cultural infrastructure projects”, the new complex is designed by Stanton Williams and Asif Khan in partnership with the conservation architects Julian Harrap.
The site will open in two stages: the formerly derelict Victorian General Market, home to the museum’s permanent galleries, will open in 2026 and the Poultry Market, which houses the museum’s learning centre, temporary exhibition spaces and collection stores, will launch in 2028.
Rendering of the proposed General Market interior
© Asif Khan Studio Mir
There are more than seven million objects in the collection, which incorporates one of the largest archaeological archives in the world. Displays at the new museum will cover significant moments in the city’s history from the Roman era to the birth of celebrity culture and the digital age, says the museum website.
In July, the museum announced a rebrand centred around the image of a defecating pigeon.