Published: CC Baseline

February 15th 2018

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By Propel

The Alchemist opens £1.65m Nottingham venue for first East Midlands site: The Alchemist, which is backed by Palatine Private Equity, has opened a site in Nottingham following a £1.65m investment.

The venue has launched in a former Hard Rock Café site in King Street as the brand’s 13th site and first in the East Midlands.

The venue will extend over 6,600 square feet across two floors, with the opening creating 80 jobs. The Alchemist managing director Simon Potts said: “We’ve had our sights set on Nottingham for a while and we’re pleased it’s finally come to fruition. Nottingham is a fantastic city and we have secured an amazing location. Overall, the venue feels a perfect fit.” Last month, The Alchemist told Propel it aims to open five or six sites in the next year after securing a £16m finance package from existing debt-funders Santander.

The Nottingham opening will be followed by others in Cardiff and Bristol as the company eyes further acquisitions. Potts added: “It’s a real joy to be able to announce positive plans for our continued growth at a time when there seems to be a lot of uncertainty in the sector.” Palatine Private Equity supported a buyout of The Alchemist from Living Ventures in 2015.