Market jv for Milligan and Camden Lock

  The founder of Camden Lock Market and his son have teamed up with developer Milligan to expand the concept to other historic locations across the UK.   Will Fulford, with his father Bill as consultant, has set up a 50:50 jv with Milligan – best known for revamping Liverpool’s Metquarter shopping centre – to buy 1- to 3-acre sites across the country. The sites will be transformed into mixed-use developments, with markets as their focus.   Target cities include Leeds, Glasgow, Bristol and Bath. Urban Market Company – which comprises the Fulfords, and Milligan’s John Milligan and Mark Morgan – is also eyeing sites in some London boroughs.   Fulford Snr said that UMC aimed to mirror the success of Camden Lock, NW1 – where there was a 15% increase of traders in January and February – without creating carbon copies of the north London market.   “Each development will be full of different people,” he said. “We won’t be trading under the Camden Lock name, but I will be bringing my track record, knowledge and expertise to the table.”   Morgan added that UMC was in discussions with a number of local councils to partner it on projects, and that the response had been positive.   The group, which has equity backing from Milligan immediately available, hopes to have made its first acquisition within three months.   “I don’t want to be accused of green-shootism,” said Fulford Snr, “but a recession is a good time for this type of business.”   noella.piokivlehan@rbi.co.uk