New tenants are expected to be operating from the former Quayside restaurant on the Ipswich Waterfront later in the spring.

The restaurant closed suddenly at the start of February, disappointing customers who had hoped to visit the venue for Valentine’s Day celebrations.

Its closure was seen as a blow to the Waterfront where it had become a popular venue during the four years since it first opened.

Now it has emerged that a new tenant is expected to exchange contracts on the venue within the next few weeks, and should be trading before the end of spring.

A spokesman for agents Savills said it was hoped to be able to announce the tenant very soon – and that the restaurant should be operating by the time most of the spring and summer events are taking place on the Waterfront.

He was able to dismiss speculation that celebrity chef Jamie Oliver was interested in taking on the venue for one of his restaurant chains.

“I’m not aware that the tenant has any connection there,” he said.

The restaurant is in part of the Regatta Quay development created from the old Paul’s Maltings and was one of the elements to be completed before the developers fell into administration in 2010.

It is in a key Waterfront location – and had been a popular landmark.

Organisers of events like the Ipswich Maritime Festival and the heritage fortnight in September will be keen to see the restaurant back in operation to serve visitors to the Waterfront area of the town.