As president of my institute and chairman of council, I make it absolutely clear that we have one partner with whom we have developed a superb scheme for the world's finest drawings collection. Our funding bid is in and we are shortly to sign lease agreements with the V&A.
Council unanimously instructed that we proceed with this project under David Rock's presidency. He signed a letter of intent, against which a major programme of work has been developed and against which substantial investment has been made. Marco Goldschmied confirmed that intent. It would be wholly inappropriate for me to allow that work to be put at risk. We are going ahead with the V&A on the basis of our present scheme for the Architecture for All Project. This provides for the care of the drawings, their public exhibition, and a combined outreach programme.
That clear, I must also state that we will remain free under the arrangement with our partner to develop complementary joint ventures, both alone and in partnership with the V&A, as new opportunities arise.