This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.
News
The Alchemist invests £1.9m into new London bar
Bar group The Alchemist has announced its plans to open a new site near Monument tube station in an effort to capitalise on office workers returning to the City of London.
Known for its creative cocktail serves, earlier this year The Alchemist secured a £15m investment from OakNorth Bank to open 10 new bars over the next three years.
The Alchemist has bars across the UK, with six currently open in London, and now the group is preparing to add a seventh to its roster in the capital with a new site on Eastcheap.
The new London bar, which has space for 115 covers, is due to open in January 2025, and has been made possible by a £1.9 million investment from the group.
“As businesses and office workers continue to return to the city, we are excited about what the future holds for this vibrant location,” commented The Alchemist CEO Simon Potts.
While the number of people commuting into the City of London took a major hit during the Covid-19 Pandemic, and the recovery has been slow, figures shared by Centre for Cities this February, based on the number of people using Bank and Moorgate Underground stations, suggest that the number of people going into the office on Thursdays is almost back to pre-pandemic levels.
Fridays, however, remain significantly below the 2019 figure, with more people working from home on these days, a trend which has resulted in the ‘Thirsty Thursday’ phenomenon, with that day becoming the big night to go out in London.
Bank and Moorgate were the stations surveyed for the Centre for Cities study due to them largely servicing “the office market”, rather than tourists or those travelling for leisure, but Potts noted that Monument is also “a hub of corporate activity” and “an area steeped in history and buzzing with energy”.
The Alchemist does offer ‘Late Night Drinks Tables’, with DJ music to accompany, after 9pm on Thursday, Friday and Saturday nights across its bars.
Related news:
Stonegate owner transfers stake in company over to debtor
What is the UK’s top summer cocktail, according to Pinterest?
Related news