Geronimo Inns, the London-based pub operator, has acquired its first City pub.
The group has obtained the former Exchange Pub in Broadgate from the Tattershall Castle Group, for an undisclosed sum, taking its estate to 26 pubs.
Davis Coffer Lyons acted on behalf of British Land in the reassignment of the building’s lease.
The operator has earmarked £300,000 worth of capital expenditure for the site, which will reopen as the White Horse in mid-October.
The addition of the gastro pub operator’s first City venue comes as PricewaterhouseCoopers (PwC) conducts a review of the business.
Earlier this year Geronimo revealed it has seen total sales grow 26% to £22.3m with like-for-like sales up 5%. But an overall loss of £1.5m was recorded — down from a loss of £1.9m last year.former
