PAINTINGS costing up to £50,000 are being snapped up at the city's newest art gallery.

The Ice House in SA1 opened in November, and bosses say the fledgling venture has hit the ground running.

It was bought by the Coastal Galleries group and officially reopened by Argentinean artist Fabian Perez.

Gallery co-owner Chris Elliott and his fiance Lorna Coppin breathed new life into the historic 130-year-old grade II listed building by converting it into a retail gallery and wine bar.

Miss Coppin's brother Paul is co-owner and manages the business on a day-to-day basis. He said both the gallery and the bar were doing very well, despite the economic climate.

The gallery stocks artwork ranging in price from £175 to £50,000, as well as wines and bottled beers in its wine bar area, which can cater for up to 150 people.

Visit our Business in the Bay website

"We took a gamble opening when we did, but we had to get established and now everything is moving in the right direction," said Paul.

"We've sold 30 to 40 paintings in the past 10 weeks, which is good news for us and the staff.

"Even some of the more expensive works are selling.

"We've had some great feedback about the wine bar, people love the atmosphere and tell us it's a great place to meet up, where they can hear their friends speak rather than the loud music you might find at other venues.

"The bar side of the business is relying on word of mouth."

The gallery features artwork by the likes of Duncan Macgregor, Doug Hyde, Fabien Perez, Australian entertainer Rolf Harris and even TV personality Timmy Mallett.