Due to launch in October, it will include a 90-cover restaurant and bar situated in The Royal Exchange courtyard, with all catering run by Fortnum’s (as with any of its operations). Menus and key kitchen appointments are yet to be decided.

The new restaurant will add to Fortnum’s current dining portfolio, which includes a tea salon, wine bar, afternoon tea and restaurants at St Pancras and St. James’s among others.

Adding to the “luxury brands located in The Royal Exchange,” Fortnum and Mason will also occupy a 2,368 sq. ft. retail space, which will include a confectionary and fresh produce counter as well as a selection of products from its flagship Piccadilly store, such as teas, preserves and hampers.

Ewan Venters, Fortnum & Mason chief executive, said: “Our arrival at The Royal Exchange brings together two iconic London institutions with a shared history in trade and commerce, and a shared passion in architectural heritage.

“Fortnum & Mason is driven to creating a world-class destination that brings the luxury and global charm of Fortnum’s, to the prestigious environment of The Royal Exchange.”

Director of asset management at Oxford Properties (who owns The Royal Exchange), Deborah Green, added: “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. 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.”