The Guardian reports on the rising rent and low return on investment in the rapidly developing London neighborhoods of St. James and Mayfair, and the impacts the growth in high-end construction is having on the long-standing galleries of the area. The story centers around Cork Street, where a number of storied London galleries are located. “I am an angry old man,” says gallerist Leslie Waddington of the 80-year old gallery Waddington Custot. “Cork Street has been built up over the years and relies on a mix of different galleries. We are the victims of a kind of commercial fascism, where those making decisions based on profit feel they are unaccountable.”Read more at The Guardian
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High Rents, Development Driving London Galleries Out of Cork Street
