Drinks company Diageo has signed a deal with the Mercers’ Company to bring beer brewing back to Old Brewer’s Yard in Covent Garden, WC1.
The firm will invest £73m in the site – where beer was first brewed in 1722 – to open a new microbrewery and culture hub. Subject to planning, opening of the site is scheduled for autumn 2023.
The 50,000 sq ft venue will create up to 150 jobs and provide a community space within the Covent Garden area. It will also become the southern UK hub of Diageo’s Learning for Life Bartending and Hospitality programme, with the ambition for more than 100 London-based students to graduate from the “Guinness at Old Brewer’s Yard” programme each year.
Rob Abernethy, chief executive of the Mercers’ Company, said: “We have worked closely with Diageo to develop proposals which will restore Old Brewer’s Yard’s historic origins in a contemporary context. The significant level of investment is a major boost to London’s recovering economy and will provide a one-of-a-kind immersive experience, shining the spotlight on Covent Garden as a global visitor destination.
“Old Brewer’s Yard will provide a wonderful platform for the Mercers’ Company to continue its philanthropic work, helping to create positive change so that everyone has the chance to lead a fulfilling life.”
Dayalan Nayager, managing director of Diageo Great Britain, added that the new scheme would “strengthen London’s hospitality community and be a must-visit destination for thousands of visitors to enjoy”.
Knight Frank acted for the Mercers’ Company; JLL advised Diageo.
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