£1.1bn development of London’s British Library confirmed

Development is to begin in 2026 (Photo: British Library)

The total investment for the project is estimated to be around £1.1 billion (US$1.4 billion), with property developer Stanhope Plc serving as the development manager.

Designed by architects RSHP and engineers Arup, the project is set to be completed by 2032.

The proposals received approval from Camden Council in July 2024 and will create approximately 100,000 square feet (9,290 square metres) of new library spaces dedicated to culture, learning, research, and business, including expanded galleries and facilities to support businesses. 

Additionally, significant areas for circulation will connect the new extension to the existing library, featuring a full-height foyer and new public entrances. Alongside the new library spaces, the project will also incorporate around 600,000 square feet (55,800 square metres) of commercial space.

Under the terms of the agreement, the British Library will grant a long lease of the land to SMBL (the Library’s Development Partner) with Stanhope retained as the development manager for the scheme.

Takeshi Iwama, chief executive of Mitsui Fudosan UK, said, “We are proud to be investing in the expansion of one of the UK’s most important cultural institutions, as well as continuing to work with community organisations in Camden to ensure that the benefits from this high-profile investment are experienced as much at the local level as they are nationally and internationally.”