The Individual Restaurant Company (IRC), the Manchester-based casual dining group has bought two Est Est Est restaurants in South London from Living Ventures. The company paid £250,000 for a 5,000 sq ft site in Wandsworth, and £400,000 for a 3,500 sq ft unit in Wimbledon. Both sites are expected to be converted into Piccolino’s, the company’s Italian restaurant concept. IRC, which is partly owned by Gresham Private Equity, currently operates 12 Piccolino restaurants and four Restaurant Bar & Grills. It plans to open five to six Piccolino’s per annum, with sites in Didsbury and Sheffield planned to open earlier next year. Last month, Bank Restaurant Group agreed to acquire IRC for a total consideration of £40.8m. The transaction, which constitutes a reverse takeover, is expected to be completed 22 December, with the new company operating under the IRC banner.