Camino, the Spanish restaurant and bar group, will look at regional expansion as well as further locations in London after securing its fifth site in Shoreditch, MCA has learnt.
The Richard Bigg-led group said costs in London made looking outside the capital a necessity for the group to realise its initial target of 10 sites.
The Business Growth Fund-backed group has secured a 3,900 sq ft site in Principal Place, Curtain Road, which will have a 75 cover tapas bar, 80-cover restaurant, and a heated 40 cover outside terrace.
Bigg said: “Our investors BGF are very strong and supportive, and the big focus is not just keeping existing places doing well, but to maximise new one.
“We’re keen as mustard to do more sites. Assuming this one does well, after we open in September well be on to the next one, and so on.”
The group had at one time planned to roll out a tapas bar model, but the design did not give customers enough space, and the pilot Bankside site was converted into a Camino.
Bigg said the focus for growth would be the full Camino restaurant and bar concept, which has a 48/52 respective sales split.
He said: “We had an initial target of 10, which we’ve had for a while, but we have had a few ups and downs along the way.
“We think this is the ideal model, and want to get this right, then expand in London initially and then out of town. At least two or three of the 10 would be regional.”
On the high costs of London, Bigg added: “It helps that there’s no premium for this site, as it’s a new lease. It’s why we’d look sooner rather than later out of town. But London’s what we know at the moment, and we don’t want to be spreading themselves too thin.”