Former Quaglino's boss to open major new City restaurant at the Royal Exchange

One of London’s leading restaurateurs Des Gunewardena is making a return to the capital’s dining scene with a major new venue in the heart of the City.

The former boss of Quaglino’s and Le Pont de la Tour operator D&D London is opening a 6,500 sq ft restaurant, bar and event space at the Royal Exchange in his first solo venture.

The as yet unnamed destination will occupy the north, south and east mezzanines of the main central courtyard, and a newly-created outdoor terrace at the front of the 279 year old building opposite the Bank of England. It is due to open in May next year. Gunewardena, who is funding the project himself, has taken a 15 year lease from the Royal Exchange’s US owners Ardent.

Gunewardena left D&D last September after a disagreement about its future strategy.

He said: “I have always loved the Royal Exchange since my first involvement with the building back in my Conran days. Ardent has some imaginative proposals for evolving what is already a very successful luxury retail and restaurant offer.”

Andrew Hilston, managing director of The Ardent Companies UK, added: “We are hugely excited to welcome Des to The Royal Exchange, and can’t wait to see his concepts come to life.

"Alongside existing eateries, including The Libertine and The Fortnum & Mason bar and restaurant, Des’ arrival will further burnish The Royal Exchange’s reputation as one of The City’s best places for dining and socialising.”

The Royal Exchange opened in 1566 as London’s first purpose-built trading centre. It once housed Lloyd’s insurance market and Queen Victoria unveiled the current building, the third on the site, in 1844. Footfall at the scheme is up around 50% so far this year as City workers return to their offices.

Bruce Gillingham Pollard advised Ardent UK on the deal while Gillingham Bell represented Des Gunewardena.