Arkley Fine Art Limited will close the doors of its gallery on Hermitage Road in the town.
In a statement online, a spokesperson said: “Arkley Fine Art has been our home, our business, and a place we have truly adored for the past eight-and-a-half years.
“It has been one of the greatest chapters of our lives so far.”
They said that sometimes “circumstances arise completely beyond your control” and “your head has to lead, even when your heart wishes otherwise”.
The spokesperson added that over the past year, business rates have risen sharply with a further significant increase due in March.
“For a small, independent gallery, these increases make operating a physical premises unsustainable.”
They said the decision is “not about passion, community, or landlord support, which has been fair and understanding throughout”.
Instead, it is about “the rising cost of maintaining a physical space under the current business rates system, a challenge that many small businesses across the country are facing”.
The company thanked the community for welcoming them in Hitchin and supporting independent art.
“Thank you for believing in the artists we have proudly brought to this town.
“We truly believe we have built and continue to hold one of the strongest portfolios of emerging and established talent, and we will continue to bring you the freshest, most exciting artists the art world has to offer”, they added.
The wider business will continue to operate online via Arkley Fine Art Fairs Limited.
“Independent art is not going anywhere. We are not disappearing. We are adapting”, said a company spokesperson.