Gaucho raises the steaks in the City with multi-million pound makeover
Argentinian-inspired steakhouse Gaucho is re-opening its subterranean Square Mile hotspot after a months-long makeover.
The remodelled restaurant, which sits under Bell Inn Yard near Leadenhall Market, marks yet another vote of confidence in the City’s hospitality scene as footfall in the area continues to rebound to pre-pandemic levels.
The now 20-strong Argentinian steakhouse group’s latest re-opening comes after launches in Liverpool, Cardiff, Newcastle and a flagship site in the heart of Covent Garden.
Martin Williams, Gaucho CEO, said he was “delighted” to re-open his doors in Canada.
“It was one of our first restaurants and I’m looking forward to celebrating its 25th year next year,” he said.
The restaurant, which opened today for trading, was launched with a private party last night attended by long-time friends of the restaurant group including LBC’s Nick Ferrari and a host of City bigwigs.
Gaucho has been reinvented under recent years under Williams’ leadership, after he returned to the business he founded when it fell into administration under different ownership in 2018.
Turnover is up some £18m on where it was five years ago, despite the well-publicised headwinds in the wider economy, which Williams credits to the brand becoming more attractive to younger diners and women.
“We had to redesign the menu, reimagine the decor, revitalise the brand, and bring in high quality people,” he told City PM in a recent interview.
“We’ve enjoyed brilliant post-pandemic trading across the estate and there is clearly a great appetite in London and across the country for the brand,” said Williams.
Williams says the latest incarnation of Gaucho in the City is the perfect incarnation of “modern Argentina,” with design consultancy LSMDesign choosing neutral earth tones with an Andes-inspired feature mural for the site.
The restaurant is offering 25 per cent off its a la carte menu, including private dining, for the first month of its re-opening.