Alastair Spalding, artistic director of Sadler's Wells, has today announced his vision for the leading dance venue over the next decade, including the construction of a fourth performance space in London.

The ten-year plan for the expansion of Sadler's Wells is also backed by a commitment to invest £5 million in commissioning new dance works.

The new 500-seat venue will be designed to present new mid-scale contemporary work. Spalding said: "The public appetite for dance has never been greater. We want to respond to this, and give the creative talent in this country a proper chance to develop for the future growth of the art form."

He added that the new space will "not compromise" its shape to accomodate other artforms and will be custom-made for dance, with a large playing space and flat stage. The total space required would be "between 3,000 and 4,000 square metres", he added.

Plans are at a very early stage but Spalding said he is considering both a brand new and converted space, depending on what comes available. He remained coy in terms of location but suggested it could be housed in south or east London, reflecting improved transport links to those areas.

2014 season

The venue also announced its 2014 season today, with more than 40 shows being presented across Sadler's Wells, the Peacock Theatre and the Lilian Baylis Studio during spring/summer 2014.

The season kicks off with the return of Tanztheater Wuppertal Pina Bausch, performing their 1980, a piece by Pina Bausch, from 7-16 February 2014. Another international artist appearing at the venue is James Thiérrée, who will perform the UK premiere of Tabac Rouge, described as an "inventive dance circus creation".

Sadler's Wells associate artist Akram Khan presents new work with the National Youth Dance Company called The Rashomon Effect, which will be performed on 16 April 2014.

Choreographer Crystal Pite has been appointed Sadler's 16th associate artist, and she will present the UK premiere of her latest work The Tempest Replica on 25 and 26 April.

In July, the venue will celebrate the World Cup in Brazil with the return of Brasil Brasileiro, a show which showcases samba in all of its forms.

Sadler's Wells also announced its annual report for 2012/13, during which time the venue attracted audiences of almost half a million in London. Nearly 100,000 people saw Matthew Bourne's production of Sleeping Beauty, making it the most successful Christmas show in the venue's history.