Israeli property tycoon and technology entrepreneur Teddy Sagi, who has made hundreds of millions from the gambling industry, announced that his company Market Tech Holdings Limited (AIM: MKT), has agreed to acquire London’s Interchange Building, Camden Wharf and the freehold over the Camden Lock Market for a combined £95 million.
According to the Financial Times, both properties, which are currently let as offices, retail and leisure units have extensive frontage to the historic Regents Canal, are physically linked to existing assets and will strategically strengthen Market Tech’s real estate position within Camden town center by controlling mix and yields.
Market Tech is a Guernsey-based holding company that combines an e-commerce platform called market.com, with iconic real estate assets, including ownership and management of the main Camden Markets in Central London.
Market Tech’s real estate assets are focused on retail, leisure and entertainment. The company owns approximately 11 acres of real estate assets in Camden, including various markets located in Camden Town, Hawley Wharf (also known as Camden Lock Village), Union Street Market (also known as Buck St Market or Camden Market) and Camden Lock Market. The company also owns separate real estate assets on Camden High Street, Jamestown Road and Kentish Town Road.
The Camden markets are a number of adjoining large retail markets in Camden Town near the Hampstead Road Lock of the Regent’s Canal (popularly referred to as Camden Lock), often collectively named Camden Market or Camden Lock. Among products sold on the stalls are crafts, clothing, bric-a-brac, and fast food. It is the fourth-most popular visitor attraction in London, attracting approximately 100,000 people each weekend.