In a bold move to enrich London’s cultural landscape, the City of London Corporation and the Mayor of London have pledged an additional £50 million towards the creation of the new London Museum.
So if history and the arts are your thing, then get excited!
Nestled within the historic Smithfield markets, this ambitious project, designed by Stanton Williams and Asif Khan, is set to become one of Europe’s most significant cultural infrastructure projects, preserving the iconic market buildings for future generations.
With a generous contribution of £25 million each from the City of London Corporation and the Mayor, the funding boosts the museum’s overall project budget to £437 million. Accompanying this, the museum is on a mission to raise an additional £30 million, with nearly half already secured through private donations and philanthropic efforts.
The transformation of the Victorian General Market and Poultry Market into world-class spaces for art and learning is well underway. Slated to open in 2026, the General Market will showcase the museum’s permanent galleries, bringing to life more of its renowned collection than ever before. By 2028, the Poultry Market will house a cutting-edge learning centre, temporary exhibition spaces, and a publicly accessible collections store, inviting visitors to explore behind the scenes of the museum’s vast collection.
Sharon Ament, Director of the London Museum, expressed her excitement about the project: “Thousands of Londoners are helping to shape this fantastic new museum which will not only explore our city’s rich history but the people and places that make it such a vibrant place to be. With the generous support of the GLA and the City of London Corporation, alongside our other funders and supporters, we are steaming ahead to deliver a transformative, world-leading museum that will be worthy of this great global capital.”
Mayor Sadiq Khan highlighted the cultural significance of the museum: “Culture is the DNA of our city, and I am proud that we’re such an integral part of the creation of the new London Museum at Smithfield. It is one of the biggest cultural projects in Europe and will be a brilliant addition to London’s world-leading cultural sector.”
Christopher Hayward, Policy Chairman of the City of London Corporation, emphasized the project’s impact: “This additional funding marks a positive milestone for the new London Museum. The new London Museum is a cultural and economic cornerstone of ‘Destination City’. This infusion of funding reaffirms our commitment to the transformation of the historic market buildings that make up the site and showcases the City Corporation’s commitment to bringing to life a community-led space for Londoners and international visitors to tell and share their stories.”
Sustainability is a core principle of the new London Museum, with plans to preserve 70% of the site’s existing fabric and implement smart technologies to reduce operational carbon. An innovative attenuation tank beneath the museum will capture rainwater for reuse, further underscoring the project’s commitment to environmental responsibility.
The London Museum is poised to become a top visitor attraction, welcoming over 2 million guests each year and contributing an estimated £565 million in economic growth within its first decade. Through its learning centre, it aims to engage every London schoolchild, fostering a deeper appreciation for the city’s rich cultural heritage.
With its doors set to open early and close late, the London Museum will reflect the vibrant, 24-hour character of the city, reinforcing London’s reputation as a global creative capital. As the project progresses, the anticipation builds for a cultural landmark that will not only preserve the past but also inspire future generations.