Living Ventures managing director Tim Bacon has established a joint venture with chef Aiden Byrne to create a new restaurant in Spinningfields with the intention of bringing a Michelin star to Manchester.
Allied London's development has had its leisure scene improved by Living Ventures' Australasia restaurant, Alchemist bar and Oast House pub in the past couple of years.
The new fine dining venture will occupy several floors of Tower 12, formerly Manchester House, and will be called The Restaurant & Lounge @ Manchester House.
Aiden Byrne was the youngest chef to be awarded a Michelin star in the UK, when he was 22 years old working at Adlards in Norwich. Byrne will join Bacon and his business partner Jeremy Roberts as a shareholder and director of the new venture.
Bacon said: "It is incredible that a city of Manchester's size and pedigree does not have a starred restaurant, there should be three or four at least and we at Living Ventures would like to get the ball rolling. I invite other chefs and proprietors to join in the endeavour."
Bacon wants the new restaurant to 'embody Manchester and its people, celebrating the history and culture'.
Manchester has not had a Michelin starred restaurant since 1975, when The French in the Midland Hotel was among the first restaurants awarded the honour.
Further details are due to be announced in late 2012 and The Restaurant & Lounge @ Manchester House is scheduled to open in March 2013.