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The donation will go towards construction of the new museum. A major gallery within the museum will be named after The Ian Potter Foundation, a philanthropic foundation created by the late Sir Ian Potter, a prominent businessman and philanthropist who graduated from the University in 1928 with a Bachelor of Economics (Honours).

鈥淲e鈥檙e delighted and grateful to benefit from the generosity of the late Sir Ian Potter, an alumnus who helped lay the foundations for Australia鈥檚 growing culture of corporate philanthropy,鈥� said the University鈥檚 Vice-Chancellor and Principal Michael Spence.

鈥淪ir Ian鈥檚 family has a long association with the University. His wife Lady Potter鈥檚 grandfather, , founded the Sydney Medical School in the late 19^th century and was pivotal to its early success.鈥�

鈥淭he Ian Potter Foundation is pleased to be donating to the funding of the building of the Chau Chak Wing Museum which will be an iconic contemporary museum providing access to one of Australia鈥檚 largest collections of antiquities.聽 This new museum is an outstanding project which will provide enhanced teaching and research facilities and also provide benefits to the general community,鈥� said Charles Goode, Chairman of The Ian Potter Foundation.

The donation builds on last year鈥檚 to the museum by Dr Chau Chak Wing, and by the Nelson Meers Foundation ($1 million) and Penelope Seidler ($750,000).

The University also announced a change of location for the museum, which will now be constructed as a new building near the corner of Parramatta Road and University Avenue. The previously proposed adaptive re-use of the Macleay and Edgeworth David buildings will not go ahead.

The decision to change the location was made after shortcomings in the fabric of the Macleay and Edgeworth David buildings were identified by the University. Converting these buildings into a 21^st century museum to house the University鈥檚 significant and valuable collections is no longer viable.

鈥淭his is a significant change to the previous plan but it places the museum at the most prominent entry point to the University and better allows us to conserve and display our extensive collections,鈥� said the University鈥檚 Director of Museums and Cultural Engagement David Ellis.

The Chau Chak Wing Museum is due for completion in late 2018.