The group is investing £1.5m in the George Street venue, marking its second venture in the Scottish capital and its third in the country in total.
The new 7,051sq ft bar and restaurant will have space for 185 covers and will open in early 2023 with the creation of 60 jobs.
The Alchemist made its Scottish debut in late 2021 when it launched in the St. James Quarter development in Edinburgh. It also recently revealed plans to open in Glasgow’s George Square this winter.
“The response to our first bar and restaurant in Edinburgh last year, alongside plans to make our debut in Glasgow later this year, has been incredible and we’re thrilled to be further expanding our portfolio in Scotland with a second venue in the capital," says brand director Jenny McPhee.
“With a mix of listed features and our signature style, the site is going to be stunning, offering an unrivalled and unconventional drinking and dining experience in the heart of the city.”