The museum will relocate from Shad Thames, south-east London, to the disused Commonwealth Institute building in Kensington in 2014. It will have three times the exhibition space.
According to Estates Gazette Sir Terences’s donation comprises £7.5m cash and the proceeds from the sale of the lease of the existing site, valued at £10m. The budget for converting the new location is £77m. Some £54m has already been raised.
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