National developer Taj Ubhi, CEO of 9 Property Group, has teamed up with commercial real estate buyer Emmanuel Agalamanyi, MBA, of BlackBridge Property Partners to acquire the former well-known Antibo Restaurant in Nottingham City Centre.
The building’s acquisition, led by Emmanuel Agalamanyi, is set to see it transformed as 9 Property Group begins work on the site, to develop 51 modern student living spaces.
Bought out of receivership, the purchase marks the partnership’s first pipeline of acquisitions set to take place over the coming months, which is currently in legal, as similar distressed sites throughout the country have been placed on the market.
The neglected building will be given a new chapter, providing a central location for students to call home, but still maintaining much of the building’s historic architecture.
The project is designed by ARC Design Studio.
Principal developer and CEO Taj Ubhi has a strong track record in delivering PBSA schemes and is a well-known client of finance provider Assetz Capital.
Emmanuel Agalamanyi said: “Our growing equity fund has placed us in a very strong position to acquire similar buildings and ground-up developments to cater for the student and private rental sector. We are aggressively seeking more opportunities.”
