London (Parliament Politics Magazine) – The London Museum has been granted a £50 million growth towards creating its latest home in Smithfield markets.
The City of London Corporation and the Mayor of London Sadiq Khan have both committed £25 million towards the museum, which is one of the biggest cultural projects in Europe. A further £30 million will also be fundraised by the museum, conveying the total to be spent on the location to £437 million before it opens in 2026.
What Are the Future Plans for the Smithfield Market Site?
Smithfield Market was once one of the country’s most significant meat and poultry markets and covers nearly 10 acres in the heart of the City of London. The museum feels that moving to the new site “will keep the historic Smithfield Market buildings for ages to come” and it will host about two million people a year. The decision was taken to transfer the Museum of London, rebranded as the London Museum, to Smithfield from its earlier site on the London Wall.
The Poultry Market in Smithfield, which was developed to house the museum’s learning hub, temporary exhibition areas and collection stores, will be unlocked in 2028. The extra funding represents the City of London Corporation has paid £222 million on the project while the Mayor of London has spent £95 million.
How Much Total Funding Is Required for the New Museum?
The museum has already fundraised £45 million from private contributions, sponsors and philanthropy and it is seeking to raise £100 million in total. It is also examining green loan opportunities to increase the remaining £20 million towards its £437 million target.
What Progress Has Been Made on the Smithfield Market Restoration?
Restoration assignments in the General Market at the Smithfield area have already been constructed and work is underway to frame the areas that will house the museum’s permanent galleries. A three-metre-wide round, glass window was craned in to become the centrepiece of the General Market’s dome roof in 2023. A four-year-long restoration of the Poultry Market’s copper roof was also constructed by hand by 83-year-old coppersmith Chris Johnson, who performed as an apprentice on the original 1960s build.
How Will the New Museum Enhance London’s Cultural Landscape?
London Museum director Sharon Ament stated: “Thousands of Londoners are allowed to shape this fantastic new museum which will not only examine our city’s rich history but the people and places that construct it such a vibrant place to be. She added: “We are steaming forward to deliver a transformative, world-leading museum that will be deserving of this great global capital.”