Camden market could be up for sale for £1.3bn
today Jun 28, 2019
The landlord of tourist shopping spot Camden Market is reportedly looking to sell with the North London market complex believed to have a £1.3 billion price tag attached.
Software-to-property tycoon Teddy Sagi hasn’t made any firm commitments but is believed to be mulling a sale that could kick off this autumn, according to property website React News.
But another option on the table is to bring an investment partner on board for the £0.5 billion Hawley Wharf development that is part of the giant site.
Sagi made his money through his investment in software specialist Playtech and spent around £0.5 billion buying parts of Camden Market half a decade ago. Since then his company, now know as Labtech Investments, has both listed its shares and been taken private, with Camden's value increasing steadily every year, regardless of its ownership details.
The area has been developed beyond its market foundations in recent years with more leisure amenities, residential and co-working space. But retail remains key and just a couple of months ago, the company launched a new leasing scheme aiming to attract more indie and start-up retailers to the Hawley Wharf development.
Camden Market continues to be a major London attraction and sees around 28 million visitors every year.
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