Israeli billionaire and owner of Camden markets adds to 11 acre empire in borough
PUBLISHED: 09:08 03 March 2015 | UPDATED: 09:08 03 March 2015
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An Israeli billionaire who last year completed the takeover of all of Camden’s main markets has bought yet more real estate in the borough – adding to his 11 acre empire.
Teddy Sagi, a property tycoon and technology entrepreneur who has made hundreds of millions from the gambling industry, announced on Friday his company had bought canal-side sites Camden Wharf and the Interchange Building.
The deal, which also includes the freehold for Camden Lock Market, is worth £95million.
The acquisitions were made by Market Tech Holdings, of which Mr Sagi is the largest shareholder. The company completed the purchase of Stables Market, neighbouring Buck Street Market, Camden Lock Market and canal side site Hawley Wharf in October. In December, a bid to raise £100million saw market stalls head to the stock exchange as Market Tech Holdings was listed on the Alternative Investment Market (AIM), valued at £750million.
The company said it now owned “an almost complete island” in Camden Town, made up of sites on three sides of Regent’s Canal.
The Interchange Building in Oval Road is an iconic Grade II-listed property, currently let to global media group Associated Press. Camden Wharf in Jamestown Road is a mixed-use building with offices on upper floors and retail and leisure units at ground level.
The acquisitions form part of a larger regeneration project planned for the area, including a £300million redevelopment of Hawley Wharf (which includes 170 homes, a revamped market area, an art-house cinema and a school).
Charles Butler, chief executive of Market Tech Holdings, 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.”
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