Tim Yates has stepped down as finance director of Grand Union, the Adam Marshall-led group, to return to working with his former Realpubs colleagues Nick Pring and Malcom Heap under their new fledgling vehicle Urban Pubs & Bars.
Yates spent three years at Realpubs and oversaw its £53.1m acquisition by Greene King in 2011. He joined Grand Union at the start of 2012 and during his time the group secured new funding from Luke Johnson.
Earlier this year, Urban Pubs & Bars secured its first two sites in London as it looks to grow to 20 outlets across the capital.
The Old Ship Inn in Hackney, which features 10 four-star rated boutique hotel rooms, and the Whippet Inn in Kensal Rise were acquired by the new group in deals handled by Davis Coffer Lyons.
Urban Pubs & Bars is now looking to grow an estate of up to 20 sites across central London and the capital’s ‘urban villages’ over the next four years through the acquisition of further quality leasehold or freehold pubs, capable of achieving weekly sales in excess of £20,000.
