Drake & Morgan, the fledgling London bar-restaurant operator, is to open a fourth venue - its biggest yet - called The Folly. The 13,200sq ft site will open later this year in Gracechurch Street just a few yards from its third outlet, The Anthologist, in the City of London. It will cost in excess of £2m and comprise 500 covers. The two-floor venue will feature a bar, kitchen, deli, shop, a snug and private dining rooms plus a space devoted to "pop up" shops. The group, which is led by Jillian MacLean, said the aim was to create an outdoors environment indoors - "London's secret garden" - replete with an eight-metre high tree trunk in the middle of the venue. It will work in concert with Fusion Design on the project. The landlord of the property is Arab Investments. The Anthologist, which opened earlier this year, is believed to be achieving current weekly sales of between £70,000 and £80,000. The group also operates The Refinery at Bankside, which opened in 2008, and The Parlour at Canary Wharf, which was unveiled in 2009. The Folly is expected to open its doors this October. MacLean was named Rising Star at this year's Retailers' Retailer of the Year Awards, organised by M&C Report.