New Museum of London cost leaps to £332m

The cost of transplanting the Museum of London from London Wall to a converted meat market at Farringdon has leaped to £332m, £80m more than had previously been projected.

The museum is due to move to vacate the site near the Barbican for a £288m new concert hall and reopen at Farringdon in 2024, to a design by the architects Stanton Williams.

But the cost of repairing the former market buildings has ratcheted up the budget.

“It’s a really complex site, with the Thameslink railway line running under it, and the buildings haven’t been occupied for 30 years” said Sharon Ament, the museum’s director. “But the costs are now under control and when it opens it will be just as evocative and compelling an attraction as Tate Modern”.

Tate Modern’s 2016 extension, the Blavatnik Building, £266m.

Ament said she hoped the new museum would be a 24-hour offering, that a discovery might become an extra attraction. “We have uncovered the remains of a Victorian cafe called the Temperance Cocoa Room” she said. “We might take away the word ‘temperance’ for obvious reasons but we’ve gone into that part of the building and the original Victorian tiles are still there. It’s amazing, and so obviously we want to make this the Cocoa Rooms again, and that could be a place that goes through the night.”

 

 

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