A major new modern art museum on Oxford Street opens tomorrow, giving a boost to the West End street that’s struggled in the fight against business closures in the area.
Moco Museum will take over a sprawling 1920s building opposite Marble Arch, becoming its third European gallery.
Major artists such as Andy Warhol, Jean-Michel Basquiat, Keith Haring, Yayoi Kusama, Jeff Koons and Damien Hirst will be displayed as part of its permanent collection, and a new Marina Abramović exhibition, Healing Frequency, will open on September 11.
Last year, waiting for planning permission, the art company argued it would “complement” the Frameless Immersive Art space, the Wallace Collection and Serpentine Gallery nearby – helping to turn the area famous for shopping into a must-visit destination for art lovers.
The building, at the top of Oxford Street, began being developed for shops and offices in 2020.
But landlords, The Portman Estate, said in August 2023 it had received no offers from a retail company to take on the lower floors.
“The development has been physically completed but the space at lower ground and ground floors has never been occupied,” The Portman Estate said in documents submitted to Westminster Council.
“This application comes forward in the context of a changing environment on Oxford Street, which is proving more challenging for traditional retail uses.
“Amid a backdrop of widespread vacancy and poor quality temporary occupiers dominating the western section of Oxford Street, the Estate recognises that now more than ever, Marble Arch is in need of a transformative anchor letting that will boost footfall and reinvigorate occupier confidence.”
Moco runs two other galleries in Europe. The first opened in Amsterdam in 2016, with Venus Williams among those praising its Banksy exhibition, describing it as “one of my favourite museums”.
A second venue launched in Barcelona in 2021 and Barack Obama and Steven Spielberg were among the tourists to view its Modern Masters show earlier this year.
Together the attractions see over a million visitors each year, most aged between 18 and 45, according to Moco.
The news of the new major gallery came after Westminster council launched plans to give rundown Oxford Street a facelift, reducing traffic and forcing out the cheap US-style sweet and souvenir shops.
It is hoped proposals for wider pavements, redesigned crossings and new trees for the mile running from Tottenham Court Road to Marble Arch will bring well known brands back to the area following the closures of flagship stores such as Topshop and House of Fraser.
IKEA has confirmed it will be opening a store on Oxford Street in spring 2025, while HMV reopened its flagship Oxford Street shop after a four-year hiatus in November 2023.
