Acclaimed Sydney restaurant Sepia will close on Sussex Street within the next two years as the lease runs down on the city location.

"We've already got the next idea, we just need the right site," Sepia co-owner Vicki Wild says of the three-hatted restaurant's next move.

Will it be fine dining? "No, not really. You've got to keep it interesting for yourself and everyone else…but it's not going to be burgers," the restaurateur quips, adding they want to focus on a single venue.

Wild's partner, chef Martin Benn, says there'll still be a sophisticated, international bent to their next move.

Sepia, winner of countless awards, including The Sydney Morning Herald Good Food Guide 2015 Restaurant of the Year, is now a strong brand, although Wild says a decision hasn't yet been made whether the next venue will continue the Sepia name.

Recent speculation has centred on the duo opening in New York or Hong Kong however the couple says neither city is on the radar.

"Our intention is to stay in Sydney, it's our home," Wild adds.

While the lease has two years to run, Wild says they may call time earlier at Sussex Street "if we find the right thing". Best get in there quick.