Maven Capital Partners, the property and private equity manager, has bought a 28,000 sq ft building in Nottingham city centre for £3.7m from a South African-listed property fund.
The transaction was funded by Maven Investor Partners.
191-195 Lower Parliament Street, which is currently let to Peacocks-owned Bon Marche and Poundland, was originally built as part of the intu Victoria Shopping Centre. It stretches to almost 28,000 sq ft over basement, ground and first floors. It had been up for sale for a guide price of £4.1m.
Planning permission will be sought to create a purpose-built student accommodation (PBSA) development on first and additional upper levels, while retaining the ground floor retail units.
Maven has extensive experience in the
link source - The Business Desk