Historic Marlborough Gallery’s London Building Hits Market for Over £25M—Why Is It For Sale?
London's ten-story and 10,300 sq ft. Marlborough Gallery, formerly known as Scandia House, is on the market for £25M ($32M).
Since 1946, the Marlborough Gallery in London and New York are one of the most competitive galleries to host exhibitions. According to ART News, it became well-known for exhibiting the works of Post-impressionist artists like Auguste Renoir, modernist painters like Wassily Kandinsky and Abstract expressionists. The estate of Jason Pollock was also represented in the gallery.
(Photo : Screenshot from Marlborough Gallery London's Official Website)
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Why London's Marlborough Gallery Is For Sale
The Art Newspaper shared that it has already been planned since April of this year, because since June, the Marlborough Gallery has not held exhibitions nor representations for artists and estates.
While it has been over four months since plans for market listing have been revealed, sunsetting a gallery requires several years. And although a lot of services were no longer in work, it kept a few employees to assist in closing the operations permanently.
Currently, the Art News Paper also highlighted that Marlborough Gallery has a long inventory of paintings, paperworks and photographs worth over but not less than $250 million. But it's worth noting that this is only in London as the gallery also owned real estate properties across Barcelona, Madrid and New York.
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