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A second high-profile bidder has emerged to compete for the old Royal Army Medical College site next to Tate Britain on London's Millbank.

The Karachi-based Aga Khan 51¹ú²úÊÓƵ has put in a bid to the owner, the Ministry of Defence, to build its Institute of Islamic Civilisations on the site, its first significant international initiative.

The Chelsea College of Art and Design had been confident that the MoD would accept its bid. Both bids are believed to be about ?37 million.

The MoD said it was also considering 16 other bids and that a final decision would be made in the next few weeks.