Hyundai Motor Company has secured one of the world’s most iconic advertising spaces in London’s Piccadilly Circus.

The 116 sq metre space, previously held by Sanyo since 1978, is estimated to be seen by over 56 million people every year.

The billboard - which will first go live on June 24 with a simple Hyundai banner advertisement – will be updated to a high-resolution LED screen in October 2011.

Tony Whitehorn, Hyundai UK managing director, said: “We are obviously delighted to have achieved such a prestigious space in the heart of such a vibrant city. It is a rare opportunity for our brand to become part of the London landscape and to engage with millions of consumers on a daily basis.”