Gaucho has achieved double-digit EBITDA on turnover for the past year of £73m – up from £55m, in what owner Rare Restaurants has described as a record-breaking year for the Argentinian steakhouse brand.
On the back of its performance, three new openings are planned for Gaucho, including its first in London since 2009.
The brand will open its first site in the north east in March, on Pilgrim Street in Newcastle. It will offer a lunch menu, evening à la carte and group sharing, as well as Gaucho’s Sunday Sessions featuring a bottomless Sunday Roast and live music.
This will be followed by a restaurant in Cardiff, on Bridge Street in May, with Gaucho Covent Garden to open in June, on James Street.
Martin Williams, CEO of Gaucho said: “I’m delighted to announce a wave of new Gaucho openings across the UK, particularly our first London opening for over a decade.
“With all the headwinds facing our sector (in London more than anywhere else) it would be easy to focus outside of London – but Gaucho was born in the West End.
“We have enjoyed fantastic post-pandemic trading in the capital and are beyond confident that Gaucho Covent Garden will be a triumph. Our recent openings in Glasgow and Liverpool have been incredibly well received and I have no doubt that Cardiff and Newcastle will be too.”
