The projected new home of the BPMA. Credit: Feilden Cragg Bailey Studios

The British Postal Museum & Archive has announced plans for a new home in London.

The new site will be at Calthorpe House on the Mount Pleasant site, and will be funded by a low-interest £6m loan and a £500,000 grant from Royal Mail and Post Office Limited.

Calthorpe House is yards from the current home of the museum and is owned by Royal Mail, which will grant a 999 year lease. The space is currently 1,800 square metres, with plans to extend it. 

The BPMA will need to raise around £2-£2.5 million to complete all its plans at the site, and is looking at ‘a number of funding sources’. These are likely include the lottery and donations from collectors.

The museum promises more exhibition space and better access to the archives. It’s projected to open in two to three years.

This plan is latest in a long line of schemes since the National Postal Museum closed in 1998. In February 2011, a project to move to Swindon was scrapped at the last minute after three years of planning because Royal Mail would not fund it.

When asked about the delay in finding a suitable home, only to move to a different building on the same street, a BPMA spokeswoman said: ‘We’ve looked into different options and this time we’ve found a good, sustainable plan.’ She added: 'This building was not previously available, and we feel that this is the best option and will provide a secure and accessible home for our collections.'