Ultimate Leisure, the Newcastle-based late-night operator, has acquired two bars from Life Inns, the Belfast-based company, for £1.4m.

The acquisition of the two city centre bars, The Potthouse and The Advocate, takes Ultimate’s presence in Belfast to six venues.

The latest deal is part of the company’s strategy of increasing its presence in towns and cities outside the North East.

In line with this, the group is also set to open its first bar in the City of London in early December.

The 7,000sq ft bar, which was recently acquired from Orchid Inns, is located in Bishopsgate and will be the company’s fifth to be launched under its Prohibition brand.

A further Prohibition is planned to open at the Harbourside development in Bristol, while negotiations on a further site in the City of London are underway.

The company is also in discussions on a further three sites for the brand, which was acquired last year from Living Ventures.