The former bosses of the National Theatre, Nicholas Hytner and Nick Starr, have revealed plans for a new theatre at Tower Bridge.
The 900-seat venue will be the home of their new London Theatre Company.
It is expected to open in spring 2017 as part of Berkeley's One Tower Bridge development.
"It feels like the time is right for a new theatre that answers the needs of contemporary audiences and theatre-makers," they said.
"We're going to make shows that are both challenging and popular. We know there's a large audience which responds to new work that is ambitious and stimulating; and the more adventurous it is, the more popular it turns out to be."
Sir Nicholas spent 12 years as artistic director at the National, overseeing hits like The History Boys, War Horse, One Man, Two Guvnors and The Curious Incident of The Dog in the Night-time. He stepped down at the end of March 2015.
Starr was the theatre's executive director from 2002 to 2014.
The pair said the new "flagship" venue was "the only central London commercial theatre of scale not in the historic West End".
"It will offer theatre-makers the kind of environment that will provoke from them adventurous new work, and it will offer to audiences modern standards of comfort, leg-room and facilities.
"We're already working with playwrights and directors on a programme that will be predominantly new but will include, on occasion, a re-invention of a great work from the past."