Pub operator Geronimo Inns has expanded its London estate with the purchase of its first property within the Square Mile for an undisclosed sum from TCG.

The Broadgate Exchange is set to be relaunched as The White Horse in mid-October following the acquisition, which adds to the group's 25 pubs within London and the M25. An outdoor terrace will be created as part of a £300,000 investment in the property, which will adopt Geronimo's existing food-led model with full-table service and an extended soft drink range.

Geronimo Inns chief executive Rupert Clevely said: "We are delighted to add our first site in the Square Mile to our existing portfolio of iconic London pubs."