What if these walls could talk? The Former Asia Realty Co. Building, also known as the Asia Building, stands as a testament to Shanghai’s dynamic past. It whispers tales of British traders, oil tycoons, and a city constantly reinventing itself.
Originally known as the McBain Building, it was erected in 1916. The Asia Realty Co. Building quickly became a landmark. Imagine Shanghai in those days. The Asia Realty Co. Building was the tallest and largest structure around. This earned it the nickname “Number One Building on the Bund”.
Two British brothers, James and Hayes Hogg, owned the land. Their trading company, Hogg Brothers, had thrived since 1861. In 1899, they decided to return to Britain. George McBain, another British merchant, bought the property. He constructed the Asia Realty Co. Building after demolishing the original house.
Moorhead and Halse, a renowned architectural firm, designed it. Yu Chang Tai was the contractor. The Asia Realty Co. Building initially had seven stories. An extra story was added in 1939.
Just a year after completion, in 1917, Royal Dutch Shell’s Asiatic Petroleum division moved in. They sold kerosene and candles before electric lights became common. They renamed it the Asia Building.
During the Japanese occupation, the Asia Realty Co. Building was seized. Most of the British staff fled to Chongqing. After the war, they returned. The company’s profits soared.
After the People’s Republic of China was established, some branches closed. Only about 50 employees remained in Shanghai. In 1950, the East China Petroleum Company took control. Other companies moved in, including the Shanghai Metallurgical Designing & Research Institute.
Asiatic Petroleum finally ceased operations in 1966. The Shanghai Real Estate Department then took control of the Asia Realty Co. Building. Interestingly, the two shell-shaped ornaments of Royal Dutch were removed. They were relocated to the company’s Beijing office and are now displayed at the Shanghai History Museum.
In 1996, the Asia Realty Co. Building became the headquarters of the China Pacific Insurance Company. As of 2015, it was largely empty. In December 2021, Christie’s announced its move to the Asia Realty Co. Building. It became their new Shanghai headquarters. Their first auction was held there on March 1, 2022.
Later in 2022, the Bund One Art Museum opened. It is a temporary exhibition space. The museum is part of a five-year partnership with the Uffizi.
The Former Asia Realty Co. Building stands as a silent witness. It saw the ebb and flow of empires, businesses, and art. It remains a testament to Shanghai’s ever-changing skyline and enduring spirit.