Benefactors behind a modern art gallery, which held free exhibitions and supported unknown risk-taking artists, have announced it will close after 15 years.

East Finchley-based philanthropists Anita and Poju Zabludowicz said the space at Prince of Wales Road, Kentish Town will shut its doors after the current exhibition ends on December 17.

The move will lead to several job losses, but a spokesperson said while "all options" for the Grade II listed building are being explored, it is hoped it will continue in community use.

The couple's extensive collection of contemporary art is housed in the former Methodist Church, which was built in the 1860s before being taken over a century later by Drama Centre London.

Ham & High: From 1963 to 2004 the building housed a drama school which trained top stars in the method style including Tom Hardy, Michael Fassbender Colin Firth and Helen McCroryFrom 1963 to 2004 the building housed a drama school which trained top stars in the method style including Tom Hardy, Michael Fassbender Colin Firth and Helen McCrory (Image: Drama Centre London)

The acting school, which championed Russian style method acting, trained many top stars including Colin Firth, Penelope Wilton, Simon Callow, Geraldine James, Helen McCrory, Tara Fitzgerald, Anne Marie Duff, John Simm, Paul Bettany, Michael Fassbender, Russell Brand, Tom Hardy, and Emilia Clarke.

Restored in 2005, it reopened to the public in 2007 as the Zabludowicz Collection and over the years it has hosted 100 - often risk-taking and immersive exhibitions - and held more than 640 free events enjoyed by 250,000 visitors. It has also worked with hundreds of artists including Ed Atkins, Rachel Maclean, Andy Holden, Marianna Simnett, Haroon Mirza, and Rebecca Ackroyd.

The 8000-strong collection of works by over 600 artists will continue to grow and the couple, whose wealth comes from private equity, property investment and hospitality, now aim to increase opportunities for public access via free of charge loans to galleries around the world, and boosting their digital presence.

Ham & High: Past exhibitions include last year's hit show by multimedia artist LuYang which created a gaming arcade in the gallery spacePast exhibitions include last year's hit show by multimedia artist LuYang which created a gaming arcade in the gallery space (Image: Zabludowicz Collection)

“When we set up a project space for the collection over 15 years ago, our goal was to create a supportive environment for artists, to share our collection as widely as possible, and to provide a free, diverse programme for the benefit of the public," they said. 

"This has included free exhibitions, commissions, and professional development programmes for artists and curators, complemented by a broad spectrum of events, from curator tours and panel discussions to live performances and family workshops."

In recent years, other art institutions have become "more inclusive of artists in the early stages of their careers" leading them to switch their focus.

"We are so pleased to see more opportunities and spaces available. This has prompted us to reflect on the focus of the Collection and our aim to provide a platform for artists. As we look to expand access to the Collection, we have made the decision to close 176 Prince of Wales Road, which very sadly means the team will be significantly reduced in size.

Ham & High: The final group show All Crescendo, No Reward ends on December 17.The final group show All Crescendo, No Reward ends on December 17. (Image: The Zabludowicz Collection)

"We are immensely proud of what the team has achieved, and it has been a privilege to present so many brilliant artists in the space."

Exhibitors have included Rina Banerjee’s specially commissioned installation An Archaeology, Matt Copson’s laser opera Age of Coming, and the final group show All Crescendo, No Reward.

"Creating opportunities for artists and curators to be ambitious and take risks has always been, and continues to be, important to us," said the couple.

"We look forward to developing new partnerships with institutions and independent curators, as well as building upon our commissions, professional development opportunities and residencies for artists."

Anita Zabludowicz added: "As we reach 30 years of the Collection, we want to ensure that we can offer as many people as possible the chance to engage with the artists of the future, by supporting their work and loaning our collection to institutions around the world.”