Hospitality Industry

Valpre Capital, a London-based investment management firm, has announced the acquisition of its first property in Athens—a centrally located office building on Piraeus Street in the Omonia Square district. This purchase marks the beginning of Valpre Capital’s strategic initiative to establish a portfolio of high-quality aparthotels in central Athens’ most sought-after areas.

The project involves repurposing underutilized office spaces into modern accommodation solutions, in collaboration with local partner Mr. Anastasios Nasim.

The 2,900 sqm property, located in the bustling Omonia district, will undergo an extensive refurbishment to cater to the needs of today’s travelers and residents. Upon completion, the aparthotel will be operated by a renowned international brand, ensuring top-tier management and an exceptional guest experience.

Ahmad M. Hariri, Managing Partner of Valpre Capital, commented: “This acquisition marks a significant milestone in Valpre Capital’s expansion into the Athens real estate market. Piraeus Street is a strategic location at the intersection of business and culture, making it an ideal starting point for our aparthotel portfolio. Our vision is to deliver high-quality, sustainable assets that address the growing demand for flexible accommodation solutions in central Athens.”

Anastasios Nasim, local partner of Valpre Capital, added: “It is a privilege to partner with Valpre Capital on this strategic venture in Athens. Our shared commitment to creating developments that cater for the evolving needs of short-term accommodation while integrating seamlessly with the local community and environment is at the core of this venture.”

The refurbishment will incorporate sustainable practices and innovative design, reflecting Valpre Capital’s commitment to responsible investment and development. The aparthotel portfolio will target a diverse audience, including tourists, corporate travellers, digital nomads, and longer-stay residents, capitalizing on Athens’ growing appeal as an international business and leisure destination.

Valpre Capital anticipates completing the refurbishment and operational stabilization of the Piraeus Street property by Q1 2027. Additional portfolio expansion is expected, with the acquisition of another office building in the Monastiraki district planned in the coming months.

This initiative aligns with Valpre Capital’s strategic focus on unlocking value in urban real estate markets through innovation and operational excellence. By repurposing centrally located office buildings, the firm contributes to Athens’ urban revitalization while delivering superior risk-adjusted investment returns.

Vagabond, the wine bar chain offering over 100 self-pour wine options by the glass, has appointed Christobell Giles as its new Managing Director. Christobell, who stepped in as Acting General Manager in August, has now been promoted to Managing Director effective immediately. Her selection follows an extensive recruitment process conducted by Majestic Wine’s Board, which acquired Vagabond after it entered administration earlier this year.

Christobell joined Vagabond in March 2023 as Operations Director, bringing a wealth of hospitality experience and expertise from her time at businesses including Wagamama, Hilton Hotels and Megan’s Restaurants. She has been a central member of Vagabond’s senior leadership team, overseeing operations across its nine wine bars in London and Birmingham, and the ongoing development of the brand’s food and beverage proposition.

In her expanded role, Christobell will take on overall responsibility for delivering Vagabond’s growth strategy, including the expansion of its wine bar portfolio across the UK, the implementation of its new CRM programme, and investment in the recruitment, learning and development of its Wine and Spirit Education Trust (WSET)-trained colleagues.

Christobell will work closely with members of the Board at its owner Majestic, the UK’s leading wine specialist. Majestic has been on a growth trajectory following its split from Naked Wines plc in December 2019 and subsequent acquisition by Fortress Investment Group. Since then, with the return of former management and with the backing of its investor, Majestic has opened 20 new stores, employed hundreds of new colleagues, invested heavily in the training and development of its people and supplied thousands of new premium hospitality venues through its B2B division, Majestic Commercial.

Majestic acquired Vagabond out of administration in April 2024, securing the futures of nine wine bars and 171 jobs. Majestic plans to invest in the long-term future of the Vagabond business, including opening new wine bars and growing the brand’s customer base.

Christobell Giles, Managing Director of Vagabond Wines, said: “I’m delighted to be taking on the role of Managing Director at Vagabond at an incredibly exciting point in the brand’s history. I’ve been a huge fan of Vagabond’s unique proposition since long before I joined the team in 2023, so the opportunity to lead the business is one I can’t wait to get started with.

“We have passionate and knowledgeable teams, great momentum and ambitious growth plans – all of which sets us up for a very bright future as part of the Majestic group. I’m looking forward to working with the leadership team at Vagabond and the Board of Majestic to deliver on that next phase of Vagabond’s growth story.”

John Colley, Executive Chair and CEO of Majestic, said: “I am really pleased to have appointed Christobell as Vagabond’s new Managing Director. We have spoken to a number of excellent candidates for the role over the past few months, both internally and externally, and Christobell was the stand -out choice.

“Christobell has invaluable experience in the hospitality sector and has already made a huge contribution to Vagabond since joining us 18 months ago. I have been particularly impressed with the way she has stepped up and taken on additional responsibilities as Acting General Manager since the summer, and I am looking forward to working even more closely with her to deliver on our exciting growth plans for Vagabond in the coming years. ”