The company announced today (4 April) that it will not renew its 15-year leases with the luxury shopping and dining destination, and will instead launch a separate project in the area.
D&D will continue operating its Sauterelle restaurant, Threadneedle Bar and Grand Café until the end of August.
“We and [The Royal Exchange’s owner] Oxford Properties agreed that it was time for a change and we wish them well with their future plans for the building,” says Des Gunewardena, CEO of D&D.
“We do however remain committed to the City and plan to announce a new and very exciting restaurant project in the Square Mile shortly.”
Fortnum & Mason will take over the Royal Exchange spaces in October 2018 with a “visually stunning” restaurant and bar with up to 90 covers.
A separate 2,368 sq ft retail space will stock items from its flagship Piccadilly store.
The Royal Exchange is a former City trading floor located opposite The Bank of England, and now houses over 30 luxury retail stores set around a central courtyard.