16 April 2024
BLACK SEA PROPERTY
PLC
("Black Sea
Property" or the "Company")
Signed License and Management
Agreement with Nobu
Black Sea Property Plc, the Bulgarian
real estate investment company, is pleased to announce that,
through two of its subsidiaries, it has signed license and
management agreements with Nobu Hospitality LLC ("Nobu"), to build
two Nobu properties in Bulgaria. These will be Nobu's first
properties in the Balkans.
Nobu Sofia Hotel and Restaurant will
be located within the Company's 'Uni-Credit building', which is a
famous historic building in the centre of Sofia, also known as the
"Bankers Building". The building is
located in the heart of Sofia, close to the Ivan Vazov National
Theatre and surrounded by boutique shops, galleries and some of the
city's most important tourist sites. The licence and management
agreement for this site has been agreed between Nobu and Black Sea
Property's subsidiary, BSPF Bulgaria EAD.
The second site, located on the Black
Sea coast at the Grand Hotel Varna acquired by the Company in 2023,
will become the Nobu Varna Hotel and Restaurant. The licence and
management agreement for this site has been agreed between Nobu and
Black Sea Property's subsidiary, GHV-Dolphins EAD.
The two buildings will be renovated
and adapted in suitable conditions to meet the high demands of the
Nobu Hospitality LLC brand in the next 2 to 3 years.
Nobu is a famous luxury lifestyle and
an iconic brand for hotels, restaurants and residences. The company
was founded in 1994 by Nobu Matsuhisa, Robert De Niro and Meir
Teper, but the first hotel was not opened until 2013 in Las Vegas.
Nobu currently operates in multiple locations around the world,
including Barcelona, Chicago, Atlanta, London and Warsaw. The Nobu
portfolio currently comprises 38 hotels and 12 residences
worldwide.
The Directors of the issuer accept responsibility for
the contents of this announcement.
BLACK SEA PROPERTY
PLC
Simon Hudd -
Chairman
simon.hudd@d3ainvestments.com
PETERHOUSE CAPITAL
LIMITED
+44 (0) 207 469 0930
Acquis Corporate
Adviser
Heena Karani and Duncan Vasey
Market Abuse
Regulation (MAR) Disclosure
This announcement contains inside information for the
purposes of Article 7 of the Market Abuse Regulation EU 596/2014 as
it forms part of retained EU law (as defined in the European Union
(Withdrawal) Act 2018)
