In 1972 Paul and Alexandra Canellopoulos donated their collection to the Greek State. The collection contains over 6.000 artifacts of the Ancient Greek Civilization covering a span of almost 5000 years. The visitor has the opportunity to admire diverse objects like tools and vases of the Neolithic period and folk jewelry of the 19th century.
In 2005 the Theocharakis Foundation bought and restored one of the last standing old buildings of the centre of Athens. The building was renovated and its interior was reformed so that it could function as an exhibition area and as a concert hall. The building has 6 floors. On the lower ground level there is an Auditorium with the capacity of 175 seats. On the ground floor there is the reception area and an art shop. A café can be found on the first floor while the second third and fourth floor function as exhibition areas. On the fifth floor the permanent collection of the Modern Greek painter Spyros Papaloukas is housed.
In the Frissiras museum the visitor can admire paintings of contemporary artists both Greek and foreigners. The museum organizes different exhibitions displaying different works of art that are part of its extended collection. Therefore there is not a permanent exhibition.
The gallery has been moved in a new location at the area of Metaxourgio. The gallery is housed in an old neo-classical building of the 19th century which was donated to the municipality of Athens and has been thoroughly restored. The visitor can finally enjoy the extended collection of the paintings of famous Greek painters of the 19th and mostly the 20th century in an open well lighted space.