Redhook in London's Farringdon has now closed after owner Jonathan Downey finalised a deal with Spanish restaurant group Ibérica.
The site at 89 Turnmill Lane will now open as London's fourth Ibérica site in April.
There had been some confusion over the deal after Ibérica announced the news in early December, only for Downey to respond that no deal was yet complete and he was looking at "lots of options" for the site.
Managing director of Ibérica Restaurants Marcos Fernández Pardo said: "Farringdon is a very exciting project for Ibérica, as it is the most established restaurant area we have opened in to date. We are approaching it with a fresh design to support the more varied concept, which includes a stronger bar offering and an authentic breakfast menu serving homemade Spanish churros."
The news comes just two months after it was confirmed that Ibérica would open a new site at Zig Zag building, the first dining destination confirmed for Land Securities' development in London's Victoria Street.
Restaurant Property is representing Ibérica as its retained agent. Director Jason Grant said: "It's important for Ibérica to not only be a part of newly regenerating areas such as Victoria, but also position itself in well-established and trendy areas of London. Islington's Farringdon offers exactly this."
Ibérica will once again partner with Lázaro Rosa Violán, a graphic and interior designer based in Barcelona to help design the new restaurantin Farringdon.
Ibérica's executive head chef is Nacho Manzano, who was last month awarded a Michelin star for La Salgar, Gijón, the sister restaurant of Casa Marcial in Asturias, for which he already has two Michelin stars.