Novus Leisure, the premium bar and restaurant operator, plans to invest around £3m-£4m on updating close to a quarter of its 45-strong estate over the coming six months, M&C Report understands.
The Toby Smith-led group is looking to do 10/11 investment schemes between now and Halloween, which will investment in its Tiger Tiger estate and a couple of sparkles across other trading platforms.
Smith also hinted that the Hutton Collins and LGV Capital-backed group could soon return to the acquisition trail.
He said: “There will be some expenditure and the first thing we are tackling is the main Tiger Bar at our Haymarket site, because it is the first thing you see when you come through the door and has to be right. Tiger London is the first one we are going to do towards the middle of the summer.
“In the first instance the plan is focussed on the current estate, but I am also set to look at a new site soon. So you have that growth element as well. If the right site comes up we need to be acquisitive and not miss opportunities. We are going to invest across all our trading platforms this year. Between now and Halloween, we are looking to do 10 or 11 schemes, we will invest around £3m-£4m on those, in there will be a couple of sparkles and then we get to the Tigers we will invest more.”
