Living Ventures to open seven sites in 2012 and roll out new Oast House concept

23-Dec-2011 - Last updated on 23-Dec-2011 at 11:01 GMT

Tim Bacon of Living Ventures is planning to open at least seven more sites in 2012

Restaurant and bar operator Living Ventures is planning to invest £8m in the opening of seven new sites next year as well as roll out a new pub concept called Oast House.

The 26-strong north-west based company which is led by Tim Bacon, came back into profit for the year to 31 March 2011 and is expected to turnover around £40m this year. It secured £4m of funding last week to help with expansion.

Its new openings will include two under the group's Oast House pub concept in Liverpool and Greater Manchester with a site in Alderley Edge Cheshire a possibility for a third.

Oast House

The first Oast House, which is based on a 16th-century Kent oast house and offers traditional ales, Continental beers and sharing platters, opened at the end of September in Manchester's Spinningfields development and it is thought that the group will look to rollout the concept even further over the next few years.

Bacon told BigHospitality's sister publication M&C Report: "I see the Oast House as our onslaught into the 'pub' market, very much focused on the basics and what a pub should actually be in terms of the way it reacts to the whole community rather than just sections of it."

Family concept

The group, which operates the Gusto and Blackhouse brands, has also secured plans to launch two sites under a new family-restaurant concept next year in Manchester and Liverpool.

It is also planning to launch a second site under its Alchemist brand - its cocktail bar with a full service restaurant format - in Manchester.

Bacon that the group also aims to open a new top end fine dining restaurant in Manchester during the year and that he had another secret project the business was working on that would also open in the city.

Next year's openings will take the group from seven to 12 sites in Manchester and to 33 units overall.

Bacon added: "The new concepts are more born out of opportunity rather than need. It keeps me interested and we have the sites that are in close proximity to other operations of ours so they need to be different."

The group is currently concentrating on expanding in the North West, but is expected to explore opportunities to open in London in 12 months time.

This story was first published by M&C Report. To subscribe to M&C Report please contact Emily Croft on 01293 846578 or email rzvyl.pebsg@jeoz.pbz