The project, to be developed by Stanhope, will be implemented by 2032 and will include new library and commercial spaces
Mitsui Fudosan Co., a Tokyo-based real estate giant, confirmed its commitment to invest 1.1 billion GBPs in the development of London British Library expansion (press release of the British Library and Mitsui Fudosan statement).
The British Library will grant a long-term lease of the land to its development partner SMBL, part of Mitsui Fudosan, while Stanhope Plc will be responsible for the project that will include a new commercial space for life sciences occupants and a large public access on the north side of the existing Level 1 building. SMBL also appointed Savills and JLL as agents and development consultants (press release).
Rendering of British Library Extension
swv
International architects and engineering firms RSHP and Arup carried on the development In July 2024, Camden Council approved the project that may end in 2032. The developers will extend the Library of a further 100 sqf (9290 sqms) with spaces for culture, learning, research and the economy, including expanded galleries and business support facilities. In addition, important circulation areas will connect the new extension to the existing Library, including a full-height foyer and new public entrances.
The project also aims to create commercial spaces of 600000 sqms (9290 sqms), designed for scientific companies that want to establish close to Francis Crick Institute, Alan Turing Institute and London Knowledge Quarter. The project will open up the Library on three sides and create new areas and routes accessible to the public, both internally and externally, connecting it to Somers Town and St Pancras.
Takeshi Iwama, the ceo of Mitsui Fudosan UK, said: “I am delighted to confirm the development of the British Library expansion project. It’s an important milestone in the evolution of an exceptional opportunity. We are proud to invest in the expansion of one of the UK’s most important cultural institutions and continue to work with Camden’s community organisations to ensure that the benefits of this high-profile investment are felt both locally, nationally and internationally. Our development commitment represents what we believe to be one of the largest property investments in London by a Japanese company. We have already gained significant experience in the life sciences sector in Japan and the US over almost a decade and will bring that experience to the British Library expansion project, our first in this sector in Europe. We are confident that the new commercial space in the heart of the King’s Cross Knowledge Quarter, designed by international architecture firm RSHP and Arup engineers, will encourage some of the world’s most ambitious and successful life sciences companies to invest in the UK by the early 2030s″.
Rebecca Lawrence, the British Library coo, said: “I am delighted to announce this significant milestone in our bold ambition to transform the British Library. The partnership with Mitsui Fudosan will enable us to realise our long-standing vision of expanding the Library’s St Pancras headquarters. The plans will further open up the Library with new state-of-the-art spaces, harnessing the power of collaboration to build a new public space that connects communities and the Knowledge Quarter and to make significant investments in the UK. We look forward to working with philanthropists, our partners and the community to create an innovative new hub for science, innovation and knowledge that will welcome future generations of visitors, students, researchers and budding entrepreneurs.”
