Teddy Sagi is expanding his presence in London's Camden Lock market. The Israeli billionaire's company Market Tech Holdings Ltd. (AIM:MKT) has announced that it has bought Camden Wharf and the Interchange Building for £95million. The canal-side area covers 44,515 square meters adjacent to the market.
Last December saw Sagi's Market Tech raise $1.2 million on London's AIM at a company value of $1 billion.
In March 2014, Sagi bought Camden Market Holdings, which includes Stables Market and Camden Lock Village, for £400 million. In October, he paid a further £70-90 million to buy the adjacent Camden Lock and Buck Street. Sagi thus owns the most important four of the six sections of the market, which is the second biggest tourist attraction in London after Buckingham Palace with an estimated 40 million visitors each year.
Sagi plans investing over £300 million in developing the market by the start of 2018.
Market Tech Holdings CEO Charles Butler said, “These are highly strategic property acquisitions that extend the footprint of our Camden Market estate and propel our vision to significantly enhance Camden’s built environment to create a world-class living, working, retail and leisure destination under a single unified ownership.”
Published by Globes [online], Israel business news - www.globes-online.com - on March 3, 2015
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