The Ivy has unveiled its first branch in Northern Ireland – just as the chain’s owner, Richard Caring, appears close to finalising its billion-pound sale.

The new Belfast branch – the 42nd Ivy – occupies a prime central site in Cleaver House, opposite the City Hall on Donegall Square, and is smartly kitted out with red plush banquettes and plenty of foliage.

Meanwhile, it is widely reported that little-known London investment outfit Si Advisers is close to buying the entire Ivy group, which was put on the market at the beginning of the year at £1 billion. Caring owns a controlling 50% share, with the rest under former Qatari prime minister Sheikh Hamad bin Jassim bin-Jaber al-Thani.

Si Advisers is controlled by Hamza Ben Abderahmen, a director of the health and safety training provider Boyd Group, and Ameel Somani, who is described as “a private equity investor and keen supporter of the arts”.

The deal does not end 76-year-old Caring’s restaurant career. He still owns the Caprice group, whose flagship restaurant is due to reopen in the former US embassy in Grosvenor Square, with a holding that includes Scott’s, Sexy Fish, J Sheekey and clubs such as Annabel’s and Mark’s Club.