Geronimo Inns buys its first City of London pub

Geronimo Inns, the multiple pub operator, has bought its first pub in the City of London for an undisclosed sum.

The London-headquartered group has acquired the former Broadgate Exchange, a leasehold pub previously owned by Tattershall Castle Group.

The pub will undergo a £300,000 refit, after which it will open under the new moniker of the White Horse. Geronimo said around 30 jobs would be created by the move.

The group's chief executive Rupert Clevely said: "We are delighted to add our first site in the Square Mile to our existing portfolio of iconic London pubs.

"The proven versatility and scalability of the Geronimo format which already spans Central London locations, retail shopping centres, airports and train stations, as well as our traditional footprint of the London villages, gives us every confidence for our continued expansion.

"We look forward to extending Geronimo hospitality - synonymous with good food and drink, a homely environment, entrepreneurial flair and staff who always go the extra mile - to all of our customers in the City."

The latest acquisition takes Geronimo's estate to 26 pubs, of which 10 are freehold.