Oliver Bolton, the founder of Solution Sciences, created of award-wining drink Alibi, is believed to be close to acquiring, the iconic, award-winning nightclub and restaurant venue in London’s Notting Hill, which was placed on the market last year, M&C Report understands.

Bolton is set to re-open the 700-capacity venue next month as a new bar, a restaurant featuring European cuisine and members club called Mode. It will also feature a series of experiential six-month pop-ups. It is thought that Bolton has a high-profile chef lined up for the venture.

On the new venue, he said: “Each chapter will seek to push boundaries by showcasing an advanced and eclectic music schedule, alongside its creative and contemporary food and drink offering. Mode seeks to be the pinnacle of nightlife within the modern hospitality market and deliver outstanding service at all points of contact.”

The venue, which reported sales of £3m in 2011, was opened by Mark Cutler in 2008 and was famous for allowing diners to recline on beds and cushions instead of sitting at tables.

The c8,570sq ft site was held on a lease with a term due to expire in 2027. Current rent is £84k.

Cutler is currently exploring opportunities to rollout further sites under his New York-inspired restaurant and bar brand, Honky Tonk, across London after the success of the brand’s first two openings.

Cutler, who is believed to have backing from a number of investors for the rollout of the brand, believes the concept has the potential to grow to up to between eight to ten sites in the capital and is currently looking at a third location.

It is thought the group’s first two sites in Little Chelsea and Clapham Common are currently generating strong average weekly sales.

Cutler is understood to be looking for A3/A4 sites between 1,500-3,000sq ft in size on high streets and in affluent areas in the capital, such as Soho, Noho, Covent Garden and Hoxton, for further locations to launch the Honky Tonk brand in.

Solution Sciences works in the functional drinks sector and its functional health drink Alibi is now available in over 5,000 UK stockists and over 1,200 outlets abroad. It achieved second place (to Britvic) in the ‘2012 Soft Drinks Manufacturer of the Year’ awards.