Gordon Ramsay could face losing buyers and having to pay a multi-million-pound rent bill on one of his loss-making London pubs after it was taken over by squatters, MailOnline can reveal.
A group of at least six squatters locked themselves inside the Grade II-listed York & Albany hotel and gastropub in Regent’s Park and said they were setting up a soup kitchen to feed the homeless earlier this month.
The group have put a legal notice on the outside of the building, threatening action against anyone who tries to force them out. Ramsay was about to sign over a multi-million pound lease to new partners when they arrived.
With squatters in the property, a lengthy battle could occur to remove the individuals at a significant financial cost as Ramsay attempts to offload the loss-making pub.
Since opening in 2008, the venture has racked up losses totalling a staggering £15.3 million, according to the latest Companies House accounts.
Gordon Ramsay’s pub, the York & Albany, has been taken over by squatters who say they are turning it into a soup kitchen
The Kitchen Nightmares star currently remains bound by the 25-year lease after he unsuccessfully attempted to free himself from it during a High Court case in 2015.
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After losing the case and with losses continuing to build, he put the lease for the historic pub on the market with a guide price of £13 million in December last year. There are nine and a half years remaining on it.
The latest accounts also show the celebrity chef had a total deadline of five years to pay the money, which started in 2022.
They also show a further £3.5 million is due before the end of the lease.
The accounts say that Ramsay owes around £6.7 million for the reminder of the lease. It is understood that some of this money has been paid.
In 2007, film director Gary Love bought the freehold of the former nineteenth century coaching inn. He subsequently leased the property to Mr Ramsay with an annual rent of £640,000.
Mr Love hasn’t yet commented on the current squatter row. However, speaking last year when the York and Albany lease went on the market, he said big names including artist Damien Hirst and Soho House founder Nick Jones were believed to be interested in buying the property.
