D&D London has announced it will stop operating the retail and dining spaces at the Royal Exchange this summer, with Fortnum & Mason poised to move into the historic site.
The restaurant group has operated the Grand Café, Sauterelle restaurant, Threadneedle Bar and the Gallery from the central London site for about 15 years. All sites will remain open until the end of August.
Des Gunewardena, chairman and chief executive of D&D, said: "We have thoroughly enjoyed being part of the Royal Exchange for some 15 years and in that time the Grand Café and Sauterelle restaurant have become firm City favourites. But we and Oxford Properties agreed that it was time for a change and we wish them well with their future plans for the building.
"We do, however, remain committed to the City and plan to announce a new and very exciting restaurant project in the Square Mile shortly."
London restaurant, café and deli Fortnum & Mason today revealed it would move into the central London site, with plans to open by October this year.
It will occupy the 2,368 sq ft retail space, which will carry a selection of products from its flagship Piccadilly store, including teas, preserves and hampers, while the courtyard of the building will host a 90-cover dining and bar area.
Ewan Venters, chief executive of Fortnum & Mason, said: "Fortnum's at the Royal Exchange is the manifestation of our message that London remains open, and that the world's most important financial centre in the City remains vibrant.
"The Royal Exchange provides not only an important postcode location, but a culturally important environment bringing together two brands with a shared history in trade."
Deborah Green, director of asset management at Oxford Properties, said: "We are delighted to welcome Fortnum & Mason to the Royal Exchange, one of London's finest landmarks. The opening of Fortnum & Mason will be a memorable moment in the Royal Exchange's storied history and will further enhance its collection of luxury shopping boutiques and dining.
"The addition of this prestigious brand will combine two of London's prominent names in retail. Over centuries of trading both have established themselves as iconic destinations in London and together with Fortnum & Mason, the Royal Exchange will continue to be where the City converges to meet, eat and shop."