In the heart of this historic city's medieval quarter, an 18th century bonded warehouse with the remains of a 15th century tower house provide an atmospheric setting for talented chef Peter Everett and his partner, Keith Noonan's first restaurant.
And what a restaurant. Peter, a Waterford native who won the Euro-Toques Young Chef of the Year in 2006 when working with local culinary hero Michael Quinn at Waterford Castle, also brought experience at top Dublin restaurants Chapter One (Ross Lewis) and Restaurant Forty One (Graham Neville) to this project .
And it shows - in an obvious commitment to sourcing the best possible local and Irish seasonal produce, and deeply-flavoured cooking that has great finesse.
Offering just three or four choices on each course, Peter's menus aren't long, but you can feel the TLC that goes into them and the presence of trusted suppliers who provide the delicious ingredients. Suppliers are fully credited and named and include the likes of Knockalara goats cheese, Wexford scallops, Andarl Farm pork, Derek Walshe beef and Comeragh lamb.
The commitment to quality and seasonality is clear in beautiful dishes like a starter of Castletownbere crab, with crème fraiche and tomato gazpacho and a delicious deeply flavoured main course of Slow Cooked Shoulder of Lamb with creamed kale and lamb jus.
Expect plenty of seasonal fruits in the upbeat classsic desserts - Coconut Parfait and Caramelised Raspberries, perhaps - but how could any cheese lover resist the lure of finishing off with the "Selection of Beautiful Irish Cheeses with the odd French Visitor!".
Like the menu, the carefully curated wine list is also designed to provide interest and value rather than extensive choice - and the friendly, efficient service ensures a happy experience.
All round a great asset to Waterford - and great value too.