The Evening Standard reports that the Serpentine Gallery‘s purchase of a new gallery space that was once a munitions depot was provoked by Damien Hirst’s interest in buying the building for his own collection:

Hirst had intended to use the Magazine Building in Kensington Gardens to exhibit his collection of other artists’ work, which includes pieces by Francis Bacon, Andy Warhol and Jeff Koons.

But he was pipped at the post by the Serpentine Gallery, whose director Julia Peyton-Jones described the new space as “a once-in-a-lifetime opportunity”.

She said the bid had been made possible after the gallery received the largest single donation in its 40-year history from The Dr Mortimer and Theresa Sackler Foundation, an education charity.

The new gallery will be called the Serpentine Sackler Gallery.

Ms Peyton-Jones said: “It’s a building we’ve known about for many years. The timing is as it is, but we felt we had no option but to toss our hats in the ring and make our case in they best possible way.”

Serpentine Gallery outbids Damien Hirst for new space in Kensington (Evening Standard)