The Museum of London has received three donations totalling £7m for the site it is developing at West Smithfield.
The Garfield Weston Foundation has given £5m, while the Schroder Foundation and Family and the Wolfson Foundation have provided £1m each.
The Museum of London said it is now close to its initial £40m target for the redevelopment of the General Market, where it will host a festival curated by Londoners in 2025. The museum will open under its new name – The London Museum – the following year.
As part of the West Smithfield development, the museum’s footprint will extend into the adjacent Poultry Market, for which the museum is aiming to raise a further £30m.
The three donations come as the museum has finished restoration work on the external facades of the General Market, which is almost 150 years old.
Museum of London director Sharon Ament said: “We are hugely grateful to the Garfield Weston Foundation, the Schroder Foundation and Family, and the Wolfson Foundation for their support, which is crucial in helping us breathe new life into West Smithfield. We are marching forward at pace to create a fantastic new museum for the city – one that tells the story of London and its people in all its complicated and colourful glory.”
The Museum of London will close to the public at its current site on 4 December. The Museum of London Docklands will remain open, changing its name to The London Museum Docklands in January 2023.