The deal: This August, Restaurant Property brokered the deal that saw Salt Yard Group’s Covent Garden tapas bar Opera Tavern to Urban Pubs & Bars. The deal was secured off-market as Restaurant Property quickly found a purchaser within a matter of days, achieving an offer that justified Salt Yard’s exit.
Details of the property: The site is two storeys and is 2,028 sq ft, which translates to 40 covers. The ground floor has full A4 (bar) use.
About the companies involved: Salt Yard Group was founded 13 years ago by Sanja Moll and Simon Mullins and was inspired by their love of Spanish and Italian food. Mullins has departed the group recently and has been replaced as director by former Head of HR Georgina Lang. Salt Yard has three remaining sites: Salt Yard in Fitzrovia, Ember Yard and Dehesa in Soho. Ex-Realpubs founders Nick Pring and Malcolm Heap set up Urban Pubs & Bars in 2014 and have been expanding recently since selling their previous company to Greene King. This purchase marks the 14th venue for Urban Pubs & Bars within 4 years.
What everyone has to say: Salt Yard Group released a statement on the sale: “Directors Georgina Laing and Sanja Moll say it’s been a fabulous seven years in Covent Garden, and they are excited to now be focusing fully on their Soho and Fitzrovia restaurants; Dehesa, Ember Yard and Salt Yard.” Urban Pubs & Bars have made known their intention to retain the aesthetics of the premises, with its unique façade and charming interior, as well as the cuisine of modern Spanish-Italian Tapas. Danielle Agami and Tom Richards, who brokered the deal when Restaurant Property was instructed to sell Opera Tavern on behalf of Salt Yard, said: “This is a fantastic move for Urban Pubs and Bars as they will be bringing a wealth of expertise to the bustling and iconic Theatreland. We look forward to witnessing their continued success in such a prominent and unique site.”
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