Art storage companies expand in Hong Kong as government promotes sector
Crozier increases storage space by 50 per cent while local firm Eythos also growing amid government push to turn city into art trading hub
Crozier’s storage space across three locations in the city increased from about 60,000 sq ft (5,600 square metres) to 95,000 sq ft last year, Ken Ng, general manager of the American company’s Hong Kong arm, told the South China Morning Post.
“It’s a 50 per cent growth in size, which reflects Crozier’s confidence in the Hong Kong art market,” he said, highlighting the company’s new Kwai Chung space, which opened towards the end of last year and cost tens of millions of Hong Kong dollars to renovate.
While the market had seen fluctuations over the past year or so, the company still considered it a good time for expansion because of the relatively affordable rent and the city’s place in the bay area, a market with significant growth potential, he said.
The facility uses a round-the-clock, fully automated, museum-standard climate control system that integrates temperature and humidity control.
According to Ng, the system cost four times that of a standard air-conditioning system and was one of the things that the company had invested in to meet international standards, in addition to upgrades to fire safety and heat insulation.