Ambitious North East leisure operator, Sayturk Group has acquired Bar Loco, a popular Newcastle bar and restaurant, with legal advice from leading commercial law firm Sweeney Miller Law.
The Leazes Park Road bar sits a stone’s throw from St. James’ Park stadium and enjoys high footfall, particularly on match days and is a popular haunt for Newcastle students.
Sayturk Group is a high growth property development, hospitality and leisure operator based in the North East and manages several individually designed sites, including concept bars, late-night venues, pubs, cafes and luxury holiday apartments. Their dedicated team have over 50 years of experience in high-level construction and design across the UK and the Middle East.
The latest acquisition comes hot on the heels of several other high-profile deals in Newcastle’s bustling hospitality sector, secured by Sweeney Miller Law’s specialist leisure and hospitality team led by Surbhi Vedhara.
Last year, the operator acquired the lease of Metropolitan House on Collingwood Street, Newcastle which will be converted into a stylish boutique-style 21-bedroom hotel and bar with further plans for an impressive private rooftop garden terrace for the use of hotel guests. It will undergo considerable refurbishment to bring back to life a much-neglected building on one of the most important streets in the City of Newcastle.
Sayturk Group are also behind the Flower Café concept, with its next venue due to open in Sunderland’s Keel Square later in the year with a playful floral influence in keeping with the other Flower Café venues in Newcastle’s Grainger Town, Whitley Bay and Alnwick. A fifth Flower Café is also in the making on Osborne Road in Jesmond and is due to open in Q3 of this year.
Zafer Saygilier, CEO of Sayturk Group said:
“Sweeney Miller Law’s commercial team, led by the esteemed Surbhi Vedhara, was entrusted with managing the legal intricacies of the acquisition and her expertise and dedication were instrumental in the successful completion of Bar Loco. This is the 9th deal completed in the last 36 months with the assistance of Surbhi and her expert team.”
Commenting on the transaction, Surbhi Vedhara, Managing Partner Surbhi Vedhara said:
“This is yet another wonderful acquisition for Zafar and the Sayturk Group in the North East and it was fantastic to work with them again as they continue to grow. We are excited to work with them on whatever comes next. At a time when the hospitality sector is facing so many challenges, it is refreshing to see good operators like Zafer continuing to grow and outperform the market.”
Expert advice
To get in touch with our expert hospitality team, call 0345 900 5401, email enquiries@sweeneymiller.co.uk or visit sweeneymiller.co.uk
