Gordon Ramsay to sell Chiswick pub
Gordon Ramsay Holdings (GRH), the restaurant company owned by the high-profile chef, has instructed agents to sell its Enterprise leased pub in Chiswick, M&C Report understands.
The Devonshire in Chiswick, which was the company's third pub, and the Sloane Street by Gordon Ramsay restaurant in Knightsbridge are both on the market for undisclosed sums.
The agent marketing both sites is a company called Restaurant Property. It is not known why GRH has decided to dispose of the two venues.
GRH only took control of the Devonshire, which is an Enterprise lease, last year and at the time the company said that it planned to open 10 pubs.
The pub is approximately 2,350 sq ft in size and is close to the Michelin-starred La Trompette, Le Vacherin and Soho House, as well as numerous mass-market casual dining operators including Carluccio's, FishWorks, Giraffe, Gourmet Burger Kitchen, Nandos, Pizza Express Tootsies, Strada and Zizzi.
The Devonshire is held on a 30-year tied lease from 14 March 2000 and is subject to five-year upward-only rent reviews.
Sloane Street by Gordon Ramsay, which is led by chef Mark Sargeant, opened in July 2006 as La Noisette. It won a Michelin star under chef patron Bjorn Van Der Horst, before it was re-named.
It recently emerged that Foxtrot Oscar, GRH's brasserie in Chelsea is now open for lunch only on Fridays, Saturdays and Sundays, reportedly due to a lack of bookings. The restaurant reopened in January 2008 following a refurbishment.
It was also reported earlier this week that the company has failed to file accounts for the second year running. GRH has already incurred a fine of £1,500 for being five months late and faces further sanctions — possibly a court action if it fails to file accounts.
Last year Companies House started steps to prosecute GRH because the accounts for 2006 were 16 months late.
The company is run by Ramsay's father-in-law Chris Hutcheson, who is the company's chief executive and holds a 31% stake.
