Revamp planned after Wolverhampton acquisition
A developer has acquired a purpose-built student accommodation scheme, with support from full-service law firm Shakespeare Martineau.
The Chambers 51 development in Wolverhampton will be significantly upgraded by Sama Investment Group, which has commissioned contractors to undertake full cladding and remediation work.
Once the works are complete, nationwide student accommodation provider Velo Student Living will oversee the management of the new and improved student accommodation assets.
Bilal Ahmed, executive chairman and founder of Sama Investments, said: “This is a significant acquisition that aligns well with our strategy of regenerating and adding value to established developments.
“At Sama Investments, we are focused on identifying and progressing opportunities to create long-lasting value for communities. We will not only enhance the experience for students who benefit from living in a modern environment but support the local area by breathing new life into tired buildings.”
Catherine Moss, corporate partner at Shakespeare Martineau, who led the deal, said: “We are delighted to have supported Sama Investment Group in the acquisition. Our commercial real estate team played a pivotal role in facilitating the acquisition process, ensuring all property-related aspects were meticulously managed."
