East Coast Concepts, which was founded by entrepreneur James Hitchen and his brother Guy, currently operates the all day eatery and late bar Neighbourhood in Spinningfields which has recently undergone a £1m refurbishment, and the East Coast inspired Victor’s, based in Hale.
The investment will allow Hitchen and his team to fulfill their ambitious growth strategy, which involves rolling out the two concepts in city centres and suburban locations across the UK.
The business is expected to record turnover of £8m this year and is working on a second Neighbourhood site in Liverpool which will take staff numbers to 200.
The deal was led by NorthEdge investment director Phil Frame and investment manager James Marshall. Phil, who will join the board as a non-executive director, said: “James has launched two exciting, differentiated concepts in the North of England which have fantastic roll out potential.
“The casual dining scene continues to demonstrate strong dynamics for innovative concepts and we believe both Neighbourhood and Victor’s are well placed for further growth. James is a first class entrepreneur and we are delighted to be backing him and the rest of the team.”
James Hitchen, founder of Neighbourhood and Victor’s, added: “Both brands have proven to be hugely successful in Manchester and we are delighted to have NorthEdge on board as a partner to support us through the next stage of our development.
“We are constantly looking for new ways to improve our offering and the additional funding from NorthEdge will give us the firepower to become one of the best premium casual dining brands in the UK.”
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