Goodman to open London gallery

Marian Goodman, dubbed by Forbes “the grande dame of art dealers”, is to open a gallery in London for the first time.

The American has agreed to let 12,000 sq ft on a lease of circa 15 years at 20 Golden Square, W1.

She will pay a rent in line with prime Soho rents, which are more than £80 per sq ft, to the landlord, Crosstree Real Estate Partners, for the former antiquarian book store space.

The Marian Goodman Gallery was founded in New York in 1977 and opened an exhibition space in Paris in 1995.

Also in the West End, art dealer Danny Katz will take over Blain Southern’s art gallery at 6 Hill Street, W1 . It paid a premium to take an assignment of the lease, which expires in 2022, on 7,000 sq ft. The rent is £325,000 pa.

The move comes after Blain Southern recently took the top floor of Stanhope’s and Mitsui Fudosan’s office-led scheme at 5 Hanover Square, W1.

The number of art galleries in the West End is increasing as high-net-worth investors return to the art market. They are seeking space in prime locations between Christie’s in St James’s and Sotheby’s in Mayfair.

Pilcher Hershman acted for Goodman and Blain Southern; CBRE and H2S0 acted for Crosstree.

16 August 2013 | Annabel Dixon | Estates Gazette