Tate Modern Development receives funding

Tate Modern Development receives funding

April 2013

The new development of Tate Modern has been awarded £5 million from the Wolfson Foundation, it was announced today (12 April 2013).

The development will create a spectacular new building adjoining Tate Modern to the south. It will be Britain's most important new building for culture since the creation of the British Library in 1998. The new building will increase Tate Modern's size by 60%, adding approximately 21,000 square metres of new space.

The building's central core has now been topped out. This ten-storey concrete structure stands the full height of the new building, 64 metres high, and will house the lifts, stairs and services. The core sits above the Tanks and is now being surrounded by a lattice of columns, which will continue to rise throughout the year to form the perimeter of the new building.

The Trustees wanted to make a special grant to acknowledge the importance of Tate Modern and the impact it has had on the arts in the UK.

Nicholas Serota, Director, Tate said: "We are hugely grateful to the Wolfson Foundation, whose generous gift of £5 million will make a real difference to the transformation of Tate Modern. It coincides with a landmark in the project's development, as the ten-storey concrete core is completed and visitors to Bankside can truly begin to see the new building taking shape."

Janet Wolfson de Botton, Chairman of the Wolfson Foundation said: "We are delighted to be contributing to this exciting project at an organisation which has done more than any other to bring contemporary art to a mass audience. Tate Modern has been a remarkable success story since its opening in 2000."

The new development will provide more space for contemporary art and enable Tate to explore new areas of contemporary visual culture involving photography, film, video and performance, enriching its current programme for a broader audience. Last year Tate Modern attracted 5.3 million visitors, the highest ever figure in its history, making it the second most popular tourist attraction in Britain.

The Wolfson Foundation funding will bring the total raised so far to 80% of the total capital costs of £215 million. Tate has also received £50 million from the Government, £7m from the Greater London Authority and the remainder has been sourced from private donors. The new building will be completed in 2016 at the latest.

For more information on the project, please visit: http://www.tate.org.uk/about/projects/tate-modern-project