Victor Garvey, the chef and restaurateur known for Spanish cuisine, has bought out his investors and reorganised his restaurant company to allow him to concentrate on his next “one of a kind” restaurant in Soho.

As part of the reorganisation, Garvey has closed Encant in Covent Garden, and MCA understands he is due to launch a paella concept as his next venture.

The restaurant is expected to be good value, with a paella for two costing c£16, with dishes such as snail, pea and rabbit – the earliest recorded example of the Valencian dish discovered in Roman manuscripts.

It is hoped the as-yet-unnamed restaurant will do for paella what the likes Pastaio and Padella have done for pasta.

The news comes after MCA first revealed in January 2017 that Iberica founder Marcos Fernandez Pardo and Three Star chef Quique DaCosta are to lunch a paella concept in Mayfair.

Meanwhile as part of the newly incorporated Garvey Restaurant Holdings, Claudio De Martino become head of operations and partner, while long-time head chef Krisztian Palinkas and Garvey’s PA Marsida Rexhepaj also join the board.

On the reorganisation, Garvey told MCA: “We really wanted to take back control of the company and put it back into the hands of people who were working hard on it.

“It was a huge financial burden to buy out our original investors, but with right people in place, we can deliver a better product without people looking over every penny. I don’t want to worry about what lamb we’re serving, just worry that it’s the best we can serve.”

Garvey said his other restaurants Sibarita in Covent Garden and Rambla in Soho had exceeded expectations, but Encant had become a test kitchen for the other sites, rather than innovating in its own right.

He said the new concept could be scaled up if it works.

He added: “With the new restaurant opening later this year, I wanted to give that my all.

“The idea is to do a bit less with much higher quality and we want to be abler to focus on everything at once.

“The next restaurant is going to be one of a kind in London, it’s going to be really special.

“If we can get it right and replicate, then maybe we will.”