Sadlers Wells to open new London dance venue
5 November 2013 Last updated at 17:31 GMT
Sadler's Wells plans to create a new venue it hopes will help establish London as a global centre for dance to rival New York and Paris.
The search has begun for the site of the 500-seat theatre, which could open as early as 2018.
Sadler's Wells' artistic director Alistair Spalding said the plan was a result of frustration with not having a medium-sized venue to stage work.