Des Gunewardena announces new venture

Des Gunewardena, co-founder and former CEO of D&D London, has signed an agreement with The Ardent Companies UK to open a new flagship restaurant, bar and event space at The Royal Exchange in the City of London. This will be Gunewardena's first project since his departure from the D&D group. 

Gunewardena has taken 6,500 sq ft of space on a new 15-year lease, with his new project taking over the North, South and East mezzanines of the main central courtyard, together with a newly created outdoor terrace at the front of the building. The venue will also host a schedule of live music and entertainment. 

Details of food, drink and design concepts are to be announced closer to the planned opening in May. 

The Royal Exchange is a luxury destination, home to a range of high-end boutiques such as Tiffany & Co., Hermès, Montblanc and Omega; alongside dining options such as The Libertine and Fortnum & Mason bar and restaurant. 

The Square Mile is undergoing a wider luxury retail and social resurgence, with The Royal Exchange and the surrounding public realm upgrades playing a key role in the revival. As more workers return to the office, the scheme is reporting rising visitor numbers, with footfall for the year to date up by around 50% and trading performance surging by 30% on average. 

"I have always loved The Royal Exchange since my first involvement with the building back in my Conran days," says Gunewardena.

"Ardent has some imaginative proposals for evolving what is already a very successful luxury retail and restaurant offer, and I am excited to be part of those plans."

Located opposite the Bank of England, between Threadneedle Street and Cornhill, the retail element of The Royal Exchange was acquired by The Ardent Companies UK – a subsidiary of US-based real estate investment and asset management firm The Ardent Companies – in October 2022. 

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