Cork Street Galleries, Mayfair, W1

1,000-38,481 sq ft

London has a long standing reputation for being the location of choice for the global elites in the art world; it has an unparalleled international reputation for expertise and service, and is the second largest art market in the world.

The global art market continues to be strong and is currently valued at £44.8bn ($63.8bn). The UK is the world’s second largest market, making a contribution of approximately £9.5bn ($13.5bn) to the economy. The highest concentration of galleries is in Mayfair, anchoring London’s overall cultural character.

Cork Street is the spiritual home of the art market in London, helping to launch the careers of many major artists such as Francis Bacon02, Max Ernst01, Richard Hamilton03, Paul Klee04 and Antony Gormley.

The Pollen Estate is the primary owner on Cork Street and is committed to restoring its innovative reputation to create the most prestigious and dedicated street for art in the world.

The new developments significantly increase the amount of floorspace in Cork Street, replacing 1,931 sqm (20,800 sqft) with 4,069 sqm (43,800sqft) of large volume, purpose built, flexible art gallery space – an increase of 110%.

This will be accompanied by a new streetscape to ensure that Cork Street regains its importance at the centre of the world art market.

A series of buildings on Cork Street will be refurbished, extended and rebuilt behind retained facades to provide new gallery and office space in London, as well as improved public realm to greatly enhance presentation and vitality of Cork Street.