Busaba Eathai, the Thai casual dining chain founded by Alan Yau, is in negotiations over a new Central London site scheduled to open this year, M&C Report has learnt.
The new restaurant will bring the brand's portfolio to four sites, with the chain's expansion backed by a £21.5m investment from Phoenix Equity Partners.
Stephen Gee, who is the chairman of Busaba, as well as of Carluccio's and Gaucho Grill, said: "We are looking at a limited roll out of the concept starting in Central London and we will gradually work our way out in clusters like we did with Carlucico's.
"We have actively started negotiations over sites and are aiming for one more this year, but I believe that more property opportunities may arise towards the end of 2009."
In June 2008, private equity group Phoenix entered into a deal with Yau to fund the expansion of the Busaba brand, with 20 to 30 new restaurants planned over the next five years.
Gee added: "I believe that Busaba has been so successful because it offers consistently good food served in an environment that makes you feel like you are in a more premium restaurant."
He also pointed out that it was essential to have a management team in place that had the skills to run the chain and to roll it out.
"It is important to put in a team at the top end of the business that will stay together with you from the start and will still be there in five years, that is exactly what we have done at Carluccio's."
Busaba Eathai, which has an average spend per head of £16, currently has restaurants on Wigmore Street, Store Street and Bird Street.
Gee was appointed as the chairman of Busaba in June and Yau, who is also the founder of Hakkasan, Yauatcha, Wagamama, Sake No Hana and Cha Cha Moon, has remained as a director and major shareholder of the venture.
