Investment for Tate Modern transformation

The Mayor of London, Ken Livingstone, today announced a £7 million investment to pave the way for the construction of a spectacular new building to the south of Tate Modern.

The new investment is being channelled through the Mayor's London Development Agency and will enable gallery space to be increased by over 60 percent.

The new development will involve the relocation of an electricity substation currently sited in the switch house of Tate Modern and enable it to accommodate more audiences, expand its education programme and create further space for contemporary art, as well as other aspects of visual culture such as photography, film, video and performance.

Tate Modern is already one of London's cultural success stories. In its first year it attracted over five million visitors and is now the most visited contemporary gallery in the world.

The new funding means the gallery's expansion will now take place earlier than planned and the new extension could be ready as soon as 2012. This would help Tate Modern drive London's cultural offer throughout the 2012 Olympic and Paralympic Games and ensure London's rich cultural sector will be another major benefactor of the Games' legacy.

Mayor of London Ken Livingstone said:

'Tate Modern is one of the capital's major success stories. It has bought one of the finest collections of contemporary art in the world to Londoners and visitors alike. I am delighted that the new development will enable Tate to accommodate more and more audiences, expand its education programme and play a key role in the regeneration of the surrounding area, leading up to and beyond the 2012 Olympic and Paralympic Games.

'The new development will also open up a new north-south pedestrian route through the Tate Modern building, linking the City of London with Southwark and bringing major benefits to south London.'

The investment will act as a catalyst to improve the public space around Tate Modern, with the possibility of developing the Bankside Urban Park - an extensive new space that will connect new landscaped areas around the gallery with open spaces across Southwark, stretching as far south as Elephant and Castle.

Ends

Notes to Editors:

• The London Development Agency is the Mayor's agency for sustainable economic development. The LDA prepares the Mayor's business plan for London and mobilises the support and resources of hundreds of partner organisations to help build a thriving economy for London's people, businesses and communities. The LDA is dedicated to improving sustainability, health and equality of opportunity for Londoners.