London dealer Anthony d'Offay's gift to the nation of 725 major postwar works will go on display at 11 regional galleries from next spring. Tate will jointly own and show the works with National Galleries of Scotland.

The series of opening displays - 50 Artist Rooms dedicated to work by 25 artists - includes a Gerhard Richter exhibition at the Middlesbrough Institute of Modern Art. Five "rooms" dedicated to Joseph Beuys are to go on show at the De La Warr Pavilion in Bexhill.

The other venues involved in the scheme are: Aberdeen Art Gallery and Museums; Firstsite, Colchester; Glasgow Museums; Inverness Museum and Art Gallery; National Museum Wales, Cardiff; New Art Gallery, Walsall; Ulster Museum; Wolverhampton Art Gallery; and Pier Arts Centre, Orkney.

Caroline Krzesinska, creative director of Sheffield Galleries & Museums Trust, revealed that it is talking to Tate about opportunities for the d'Offay collection to come to Sheffield. D'Offay, who was born in Sheffield, said he was "delighted" with the move.

A Tate spokeswoman said: "Our aim is for as much of the collection to be on display up and down the country. This is just the beginning and we look forward to working with many more partners over the years, so that works can be viewed as widely as possible."

The collection cost £26.6m, which is the original market value of the holdings. The amount paid was £28m, which includes set-up and accessioning costs of £1.4m. The set-up funds will help pay for the regional exhibitions.

The Department for Culture, Media and Sport and Scottish Executive provided £10m each, while the National Heritage Memorial Fund contributed £7m. The Art Fund donated £1m.

Tate and National Galleries of Scotland have contributed £500,000 each to setting up a £5m endowment fund. The interest will be used to buy work by modern artists.
The collection includes

Joseph Beuys - 136 works including 20 sculptures
Diane Arbus - 69 works including the vintage prints portfolio Box of Ten (1971)
Andy Warhol - 232 works including 20 paintings
Jeff Koons - 17 works including a rare set of nine Easyfun mirrors (1999)
Robert Mapplethorpe - 64 works including 17 vintage prints
Anselm Kiefer - six works including three early paintings
Damien Hirst - five works including formaldehyde piece Away from the Flock (1995)