The British Library, in partnership with SMBL, a company owned by Mitsui Fudosan UK Ltd, is embarking on a £1.1 billion development at its St Pancras site.
This project, managed by Stanhope PLC, aims to create new public spaces and expand the Library’s capacity for commercial science, innovation, and knowledge industries. Funded by Mitsui Fudosan, the development will enhance the Library’s impact with new exhibition galleries, event spaces, and learning facilities.
The development positions the Library as a major research hub in London’s Knowledge Quarter, fostering connections between global technology firms, universities, and cultural institutions. It will also provide affordable workspaces and improve public infrastructure, including future Crossrail 2 developments.
The project supports local regeneration with new green spaces, learning and employment opportunities, and a £23 million contribution towards affordable housing. The expanded Library will offer 100,000 sq ft of new public space, featuring new exhibition galleries, business support services, a learning center, and a multi-use foyer space.
Takeshi Iwama, chief executive of Mitsui Fudosan UK, stated, “We are proud to be investing in the expansion of one of the UK’s most important cultural institutions… Our development commitment represents one of the largest single real estate investments into London by a Japanese company to date.”
This ambitious project aims to transform the British Library into a groundbreaking hub for science, innovation, and knowledge, benefiting both the local community and the broader UK economy.
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