Designed by Herzog & de Meuron, the architects responsible for developing the Bankside Power Station into Tate Modern in 2000, the 10-storey pyramid-like tower forms part of a £260 million transformation of the museum. It was made possible by donations from private donors, foundations, Southwark Council, the Greater London Authority and the government in what has been described as “one of the largest cultural fundraising campaigns ever launched”. Continue reading
A new gallery “hub” set to open in South Kensington in 2018 is expected to boost London’s profile in the international art market, the Financial Times reported on 2 March.
Cromwell Place will offer UK-based and international art dealers the opportunity to exhibit and store their artworks in a central London location. Situated in a row of heritage buildings on Cromwell Place, the development will feature 16 ground-floor gallery spaces, room for around 35 dealers to have offices and viewing rooms and a climate-controlled art storage unit in the courtyard. Continue reading
Mayfair is of central importance to the international art trade. It is where the commercial art gallery originated 150 years ago, and today it is home to the largest concentrated art market in the world. The commercial galleries, auction houses and public art institutions that occupy the area are renowned, drawing collectors, cultural tourists and associated business to London from across the globe. The UK is the largest importer and exporter of art in Europe, and sales of fine art and antiques contributed £8bn to the British economy in 2013. A substantial proportion of this revenue is generated by Mayfair, where there are up to 100 retail galleries, four major international auction houses, and the Royal Academy of Arts, which receives over a million visitors a year. Continue reading