Gregg's Table will replace Alfie's Bar and Kitchen in the venue and will serve 1970s classics such as avocado prawn and chicken kiev - all dishes described as favourites of the Masterchef host's childhood.
The joint venture between Wallace and the chairman of Bespoke Hotels, Robin Sheppard, will open on 27 February and will be housed in the restaurant and outside eating area in hotel located on Tower Bridge Road.
Wallace said The Bermondsey Square Hotel, which opened in 2009 and already sports a retro design, was the perfect choice for the launch of the new venture.
"I love the SE1 area, it’s where I grew up and I have been a supporter of the hotel, which has an inbuilt sense of humour and nod to the 1970s," he said.
"In keeping with The Bermondsey Square Hotel we have designed Gregg’s Table around 1970s designs and kept the menu true to the old favourites. We are excited about delivering good honest food, and the hotel has one of London’s best outdoor seating areas - we want to fill it with local residents and hotel guests who just want a drink and to have good food while taking in this part of London," Wallace added.
Lobster thermidor and banana split
Gregg's Table will seat 80 covers indoors and another 100 diners can eat in the outside eating area and choose from the 1970s British classics that will feature on the menu including lobster thermidor, banana split and vol-au-vents. Mains will cost from £13-£19 and the restaurant will also offer a separate drinks and snacks or takeaway menu.
The project opening will be overseen by the Bermondsey Square Hotel general manager Robert Holland who said the venue and Wallace were a perfect match.
"Gregg’s table fits with The Bermondsey Square Hotel’s outlook. Good design, good fun and good value. Gregg’s down-to-earth approach fits in with us perfectly and the food will be all the old classics that we love. We are delighted to be working with Gregg & his team,” he said.