Our sister title, M&C Report,can reveal that the site, which was relaunched last year, has been acquired by new concept Tirage, which will offer French dishes 'with a hint of Peruvian influence paired' with a range of Champagnes and sparkling wines by the glass.
Chez Gérard on Bishopsgate will continue to trade until the sale is completed, while the brand ownership has been retained by Brasserie Bar Co, which is set to focus on its Brasserie Blanc restaurants and the development of our White Brasserie pubs in London and the South East.
Brasserie Bar Co relaunched Chez Gerard at the brand’s remaining site in Bishopsgate, with a return to the brand’s steak-focused roots.
The group invested just under £500k on refurbishing the site, to give it a more New York-style steakhouse feel and incorporate a lunchtime-focused ‘steak express’ dining area on its ground floor that will become a bar in the evening and a more premium steak restaurant on the first floor.
The site was part of the deal which saw the company acquire the eight-strong Chez Gerard chain and the brand name in November 2011 in a deal valued at c£9m. It has since invested £4m in transforming the other seven sites into Brasserie Blancs.
Derry said: “We were presented with an offer we could not refuse for our Bishopsgate site. The location was not perfect for Chez Gérard but should work well for the new concept taking its place. Right now our focus is very much on investment in our Brasserie Blanc restaurants and the development of our White Brasserie pubs in London and the South East.”
The Tirage restaurant deal was brokered by nationwide leisure specialist, Restaurant Property.