Halcyon Gallery inks deal to move into the Fine Art Society's Mayfair home

The Fine Art Society’s decision to end its 142-year stint on Bond Street moved forward on Wednesday, with the dealer agreeing to sell its lease to a contemporary paintings specialist.

The exhibitor of 19th and 20th-century British works has finalised a deal that will see Halcyon Gallery make 148 New Bond Street its fourth site in London.

Halcyon, which has showcased pieces by Roy Lichtenstein and singer Bob Dylan, is paying around £2 million for the lease on the 5000-square feet, grade II-listed Mayfair building which was being marketed by property agent Levy Real Estate.

The gallery’s president Paul Green said he hopes to open in 2019 to collectors and the public.

He added that the new space will be used “to further develop and diversify our offering, showcasing a greatly enhanced roster of internationally celebrated and award winning contemporary artists”.

It emerged in February that the Fine Art Society was looking for a cheaper location in London away from the soaring rents and business rates on Bond Street.

The Fine Art Society could not be reached for comment.