The acclaimed chef and restaurateur Michael Caines has announced the acquisition of the former Rick Stein Restaurant in Porthleven, Cornwall.

The news marks Caines’ second venture in Cornwall – his first came last year with his purchase of The Cove at Maenport – and is, said the team, a “welcome addition to the Michael Caines Collection”, which also currently comprises of luxury country house hotel and restaurant Lympstone Manor, and a new project in Exmouth.

There had been rumours Gordon Ramsay had his eye on the same spot.

Caines said: “We are delighted to have the opportunity to pick up where Rick and Jill Stein have left off, taking over this wonderful property in Porthleven.

“We are looking forward to working with Trevor Osborne, the owner of Porthleven Harbour & Dock Company, to continue to grow Porthleven as a destination and develop a restaurant that warmly welcomes both locals and visitors through its doors.

“We’re looking forward to sharing details of this exciting new venture in due course.”

Porthleven is the most southerly working port in the UK, situated between the Lizard Peninsula and St Michael’s Mount in West Cornwall.

Caines said he wants to serve a “contemporary interpretation of his relaxed seaside fare”, all the while “shining a light on the very best Cornish produce and English wines.”

Harbour owner Trevor Osborne commented: “It is with great pleasure that I shall welcome the distinguished and popular chef, Michael Caines, to Porthleven.

“His reputation goes before him and I know that he will not disappoint. I much look forward to his new venue opening.”

Rick Stein’s empire, meanwhile, looks on choppier waters.