Richard Caring, the serial restaurant sector investor, is believed to earmarked the former Henry J Beans site in London’s Chelsea, for the second opening under his new Ivy Market Grill format, M&C Report has learnt.

Caring acquired the site in the King’s Road through Caprice Holdings last year and is expected to open under the fledgling all-day dining concept next month.

It is thought that the opening is part of an “exciting expansion plan” for the fledgling format, which debuted last December in Covent Garden.

It is understood that the King’s Road site’s former operator Kornicis surrendered the lease on the unit.

Caring, who also backs Bill’s, Grillshack and Jackson + Rye, had previously mooted the Ivy Café concept back in 2011 and was believed to have secured 12 Curzon Street for the format. This subsequently became Soho House’s Little House venture.

He had previously talked about launching several sites under a more informal take on his The Ivy restaurant.

Last year, Caring also secured the NatWest Bank site at 1/4 Berkeley Square for as-yet unnamed restaurant project.