Illuminate @ Prospero House is currently undergoing major refurbishment following a £600k investment, but when finished will have space for up to 300 guests.
Situated in a period building near London's trendy Borough market, the space will be linked to Prospero House but will have its own separate entrance and registration area.
Up to 20% of the overall budget is to be spent on the provision of AV equipment, linking the rooms with sound and video.
"Even in current markets there is still a real demand for innovative and well designed new venues in London," said Etc Venues managing director Alastair Stewart.
Bookings for pre-opening and hard-hat show-rounds are already available.
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