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At first, the building worked as a winery till 1952, when its owner Nikolaos Argyros closed it to open another winery on the island, the famous SantoWines.
In 1999, his son, Antonis Argyros restored the old chambers and reopened this old winery, naming it Art Space this time. This new winery is hosted in an adjacent underground cave, whose entrance is 8m below the surface of the earth. The dominant material in this cave is a dense layer of pumice, 6m thick, creating the perfect insulating environment for wine maturation. Modern technology is used to help the wine age, however the emphasis is given on quality rather than quantity. The wine comes from organic vineyards and at the end of the tour, visitors can taste different varieties.
Apart from a winery, Art Space also works as an art gallery and a museum.