Arts Council England has earmarked an additional £16.5m of Lottery funding for the Southbank Centre in London.

The grant – an extension of the existing Lottery grant for the major refurbishment of the centre – is to cover the final costs of the redevelopment of the Royal Festival Hall.

According to Moira Sinclair, regional executive director for Arts Council England, the additional money will provide Southbank Centre with a “firm footing for their ambitious plans for the future”.

“We will be working closely with the centre to ensure that financial targets are reached and artistic ambitions realised, including through the regularly funded organisations resident at Southbank,” she said.

“We want the Centre to continue to play a major role in the regeneration of the South Bank as a key cultural and leisure destination.”

Michael Lynch, chief executive of Southbank Centre, said: “Arts Council England has been extremely supportive ever since the beginning of this project.

"This generous investment will enable us to reap the rewards of success and to continue to deliver a world-class, innovative and inspiring artistic programme.”