Auction House Phillips To Move To A New Headquarters
HONG KONG – Russian-owned auction house Phillips has agreed to lease 48,000 sq ft at the West Kowloon Cultural District Authority (WKCDA) Tower, reported The South China Morning Post (SCMP) on Thursday afternoon (16 December, SGT).
Located on the opposite side of Victoria Harbour and flanking the prestigious M+ museum, the District’s centrepiece that opened to the public in mid-November 2021, the commercial space will be used as the company’s new headquarters for Asia Pacific.
In particular, Phillips is leasing 5.5 floors in the 16-storey building. The 2 top levels with a triple-height space and a 14m-tall glass window overlooking the harbour will be utilised for exhibitions and auction previews. The 3 lower floors will function as retail space, while the remaining half floor will be used as office space.
Notably, Phillips new headquarters was designed by renowned Swiss architectural firm Herzog & de Meuron, in collaboration with Arup and TPF Farells.
“We believe that Phillips’ new home in the district is poised to become a worldwide destination for collectors in Hong Kong, Asia and beyond. This momentous new chapter speaks to our long-term commitment to local, regional and international arts and cultural development,” said WKCDA’s Chief Executive Betty Fung Ching Suk-yee.
However, the Authority does not intend to reveal the rent to be paid by Phillips.
“Being located at the heart of the West Kowloon Cultural District will allow us to work alongside M+, the Hong Kong Palace Museum and the wider district on complementary programming and events, further enhancing the area as a world-class global destination for arts and culture,” added Phillips’s Chairman for Asia Jonathan Crockett.
In July, auction house Christie’s announced that it has signed a deal to lease more than 4 floors spanning 50,000 sq ft at The Henderson in Central, which it plans to use as its Asia headquarters after it relocates there by 2024.
As Phillips and Christie’s announced plans to move to new headquarters in Hong Kong, another giant in the industry, Sotheby’s, reportedly has plans to relocate from its current headquarters here in Admiralty to Wong Chuk Hang.
