Image: RAMM reopened in December after a revamp

Exeter's Royal Albert Memorial Museum (RAMM) has been crowned winner of the 2012 Art Fund Prize for Museums and Galleries at an event held in London last night (19 June).

The museum, which was reopened last December following a major £24m refurbishment, held off competition from three other institutions to pick up the £100,000 award.

RAMM was established in 1868, with its founding principles influenced by Prince Albert's "cultural ideals" of art, science, design and technology combined in one universal vision.

During its 144-year history, the museum has acquired more than 1 million objects spanning a range of subjects - including gemstones, examples of taxidermy and medieval coins.

Lord Smith of Finsbury, chair of the Art Fund Prize judges, said: "The new Royal Albert Memorial Museum is quite simply a magical place, modest in scale but vast in its ambition and imagination.

"The Victorian aspirations to bring the world to Exeter are stunningly realised through some of the most intelligently considered displays on view in any museum in the UK."

Exeter City Council leader Pete Edwards added: "Exeter has a long and rich history, which is well recorded in RAMM. It's great that today it's the museum that is making history."

West Yorkshire's Hepworth Wakefield; the Scottish National Portrait Gallery, Edinburgh; and Watts Gallery in Surrey, were also shortlisted for the 2012 Art Fund Prize.

RAMM was announced as winner of this year's award at the British Museum - last year's winner - and live on BBC Radio 4's Front Row programme.

Details: www.artfundprize.org.uk (2012 Art Fund Prize)

Details: www.rammuseum.org.uk (RAMM)