Ibérica aims for 10 sites by 2016

Spanish restaurant group Ibérica is to open a fifth London site later this year, as it aims to reach 10 sites by 2016.

The plans for the new site, at an as-yet-undisclosed location, come after the company secured a £2m funding packaged with bank Santander Corporate and Commercial.

The company recently opened its fourth site in Farringdon, on the site of what was Jonathan Downey's Redhook, and also has sites in Great Portland St, Canary Wharf, and Canary Wharf La Terraza.

All of the sites are overseen by managing director of Ibérica Restaurants, Marcos Fernández.

Ibérica's executive head chef is Nacho Manzano, who has a total of three Michelin stars to his name, including two at his restaurant Casa Marcial in Asturias, Spain.

Marcos Fernandez Pardo, managing director of Ibérica Restaurants, said: "Ibérica has had phenomenal success since it was first launched six years ago. Our mantra has been to serve great, authentic Spanish food at a reasonable price, all from an ever-revolving menu created by Nacho Manzano. We are very excited about the next phase of our growth as we aim to reach 10 unique and authentically Spanish restaurants by the end of 2016."