Fitzrovia has a history for being one of the best places in London to appreciate visual arts. Tucked away from the hustle and bustle of Oxford and Regent Street, the area has become a creative hub, with at one point, having over 50 galleries to choose from at its peak.
The impact of the pandemic, competition from established galleries and rising business rates has forced the closure of up to 60 galleries over the 6-8 years, however, recently we have noticed the demand for gallery space has slowly begun to rise again.
To understand why it has increased, we spoke to Rosie Allan the Managing Director of Sophie MacPherson, a market leader in art recruitment –
“Following the pandemic, visitor numbers at the museums went up. I expect everybody was eager to leave their homes and experience some culture! Some of our dealer and gallery clients experienced increased sales during the pandemic. Government cuts to arts education has unfortunately had a negative impact on the art industry in recent years but when retail storefronts were vacated during the pandemic some landlords got creative and offered short term leases to young art galleries and other creatives looking for physical spaces for pop ups.”
This in turn has led to a conversation about whether galleries promote or impact local economic growth. One side of the debate is that an oversaturation of galleries can potentially impact footfall and in turn effect other local businesses.
However, the other side of the debate, is that a well-defined cultural district can play a vital role in benefiting the economy and the increase in demand for gallery space can be positive for Fitzrovia as it continues to carve out its reputation as a go to area for art.
Something that Rosie touches upon, “It makes sense for galleries to open in areas where there are other galleries because they’re more likely to experience walk ins and benefit from local events designed to attract new audiences”.
Surely this can only be good for the rest of the neighbourhood, a higher number of fans of art to Fitzrovia mean they eat at local restaurants, drink at local coffee shops and bars and stay in hotels or local rental properties.
Let’s embrace the CULTURE!
