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Famous Cork Street galleries in Mayfair 'under threat'

22 August 2012 Last updated at 11:31 BST

Cork Street in Mayfair is known among art dealers and collectors for its galleries which date back nearly a century and which helped the careers of the likes of Francis Bacon and Paul Klee.

Now, a third of the galleries may have to leave to make way for a housing development, jeopardising the street's privileged status within the art world.