Vaulkhard Group reveals £4.5m expansion plan

The family-run business, which owns a number of bars and pubs in the city including Barluga, Redhouse and The Beehive, has purchased two new pubs thanks to a £4.5m funding package from bank group HSBC UK.

Located in central Newcastle, Vaulkhard ​Group has acquired the Town Wall and the Bridge Tavern venues, bringing the number of trading sites in its estate to 15.

Great city

Vaulkhard ​Group finance director Craig Bell said: “There was a slowing of investment into hospitality businesses throughout, and in the aftermath of, the pandemic.

“We saw this dip in the market as an opportunity to invest in premium sites and we will continue to search for similar opportunities in and around the North East as we look to further grow the business.”

“It’s important for us to ensure that our great city retains its reputation as a successful leisure hub, but with the challenges of the pandemic, it was difficult to find a bank that aligned with our ideas and aspirations.

“HSBC UK was always on hand with clear and direct support that has enabled us to grow, and we are thankful for that support.”

Positive impact 

The firm added all 59 members of staff across both Town Wall and Bridge Tavern will be retained, bringing the group’s total number of employees to 350.

Vaulkhard ​also stated it was looking to make further acquisitions in the North East over the coming years as it continues to grow its portfolio.

HSBC UK relationship manager Stuart McLaren said: “Newcastle’s hospitality scene has always been strong and we’re proud to work alongside this family business as they invest in it for the future.

“We look forward to seeing the positive impact that their growth will have on the city.”