Costs & Financing

Several core concerns for the campaign group are around the costs & financing of the proposed Library ‘upgrades’.

How have costs been calculated? How have these projections changed in a volatile inflationary environment?

The proposals from the Library management are, we believe, already out-of-date, with the cost analysis taking place before the global upheavals that have affected both labour and materials costs. With the work not projected to begin until 2027, we are concerned that the works will be significantly more expensive than initially proposed and that this has not been adequately considered.

This project is, we are told, entirely funded by Donors – who are also currently being sought to grow the collection, and to fund the Emerging Writers programme. We have yet to receive an assurance of how any unforeseen costs will be paid, despite the management claiming that there will be no increase in Member fees.

Management claim that there will be no call on existing Library funds, nor any risk of membership fees having to be increased. However, a capital project in the early 2000s nearly bankrupted the Library, which had to be rescued by a drastic increase in membership fees. We contend that there is a strong chance of this happening again!

We believe that there is a better use for london library money

Many Members are glad to see the management have shepherd the Library out of debt and created a model which pays for itself with turnover. These Members remember that the loss of the Library’s endowment – which is now a pittance – was through ill-considered building projects. Some Members believe that the Library should increase its reserves and endowments before committing to any costly projects such as the current proposals.

The Financial Projections require numbers seemingly plucked from the air

The management are convinced that a café and garden terrace will pay for itself from an assumed 800 new members. The way that the management arrived at this number has not been provided to Members. Additionally, there is no consensus as to what kind of Members these will be – e.g. subsidised or full-fee-paying Members. It is supposed implicitly that existing members do not choose to leave as a result. In summary, the financial viability of this entire project is predicated on a projected net increase in Membership – projections that have a large degree of uncertainty attached, or for which there is no evidence.

Furthermore, the income generated by these hypothetical new Members will have to cover the additional cost of maintaining the garden terrace. Any possible financial shortfall in the café’s running will have to be covered by the membership fees.

3 responses to “Costs & Financing”

Anthony Wells

Sep 3, 2025

Precisely so. Why raise and spend £5 million pounds, and more, on (an unnecessary) café and garden terrace as a way of increasing operating income (through a hypothetical 800 new members) rather than raising the five million directly for an endowment fund? This way of trying to raise extra funds just seems mad! AJWells

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judithmarymartin

Nov 7, 2025

I’m a very new member, having made three visits so far, so I venture my opinions tentatively, but have spent decades as a buildings conservationist, trying to prevent the destruction of historic buildings and watching far too many failures of development.

I joined for a very specific reason, because the RIBA library is out of use for the foreseeable future. Some its material is now in the London Archives but not on open access. Also, I’ve been drawn to it for decades but never felt able to justify it before, living outside London.

I can just about find my way to the periodicals in the basement, and have successfully found some other sections I’ve been looking for, but last time actually ran out of time before finding something.

That though is part of the charm. And the staff are hugely helplful.

I went up to the top floor where I’d been told I could get coffee, only to find a rather charmless space where I could make my own coffee! Instead I went out for a stroll and used Redemption Roasters by St James’s Church, having passed several other coffee options on the way. Like many of your campaigners I’m not sure a cafe would be the money-spinner hoped for. I’d rather take a break outside the building – although I have used the tiny RIBA cafe when I’m working there. That is, or was, so small and reasonable, I can’t believe it made much money. I don’t know what they plan to come back with when they reopen.

So far I’ve found the Library to be rather overheated – I hope very much that when the RIBA library reopens users will still be able to open the lovely original windows. A roof garden sounds a lovely idea, but meanwhile could a little money perhaps be saved on heating?

My real concern is the potential damage done by over-ambitious plans. So many buildings become unviable because of debt following excessive refurbishment. If they don’t go under entirely – and the arts world is full of those – they struggle and lose their cutting edge, becoming tame and limited instead of brave and imaginative. In fact I fear for the RIBA.

So often a new director will come in and is anxious to make their mark by some upheaval. Simply being a good steward if often the best tactic. That said, one minor change I would make is to the heavy doors of the Foyle reading room. Ideally they would open in both directions, as the room is in effect a corridor, and have dampers on. Struggling with arms full of hefty periodicals, they’re difficult, and also noisy.

Unfortunately I can’t get to the AGM but would like to be kept informed. Generally speaking I would support a campaign to change as little as possible.

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pac0c4ae2963a21

Nov 20, 2025

I agree.we should build up the endowment fund and not engage in further building projects least of all a cafe,and certainly not one selling alcohol.

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