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An artist’s impression of the new-look Cork Street.

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The Pollen Estate is in talks with eight modern and contemporary art galleries following a multi-million pound redevelopment of the street that will be completed this spring.

Discussions continue regarding the size of individual gallery spaces, but between six and 10 galleries are expected to open by the end of the year.

Over the past few years a number of traditional galleries left the street and the building works made trade difficult for those remaining. However, construction has been completed on the eastern side, with works on the west side of the street expected to be finished by the spring.

Julian Stocks, who runs The Pollen Estate, said: “We need to fill it with galleries that contribute to the London art scene. We will make the street more pedestrian-friendly, with fewer car-parking spaces and more room to hold events.

“It is a very exciting time on Cork Street as the development work finishes and we move into the marketing phase.”

Following the introduction of a planning policy set by Westminster Council, Pollen must provide ground-floor spaces for art galleries.

Rents for the new spaces will be higher than the previous lease agreements, but below the levels currently charged on surrounding streets.

Pollen’s property portfolio comprises 43 freehold properties in Savile Row, Cork Street, Bond Street and surrounding areas.