Israeli billionaire Teddy Sagi has bought a third site in London’s Camden Town, NW1.
A trust managed by the founder of gaming software business Playtech has acquired one-acre Camden Lock Market from Brockton Capital. Sources said a price in excess of £50m was agreed.
Stanley Sidings, the management company for Camden Market Holding Company, announced the purchase. The land comprises 50,000 sq ft of space and includes more than 250 stalls, shops and restaurants.
The CLM management team of 15 staff are also included in the sale and will be retained by the buyer.
Mark Alper, CMHC’s UK group property director, said: “Our aim now is to look at long-term regeneration of the markets while taking a holistic approach to Camden Town as a whole. We intend to continue the current planning process for Camden Lock Market as part of our long-term plans and extensive investment in the town centre.”
A spokesman for Brockton Capital added: “Over the past three years we have greatly improved the appearance, operation, management and food and beverage offer at Camden Lock Market, resulting in a market that appeals to local people and visitors alike.”
Earlier this month Sagi spent £22m for 0.3-acre Camden Market on the high street. He also bought the nearby Camden Stables Market from a consortium including Chesfield and restaurant tycoon Richard Caring for £400m in March.
Sagi is ranked 748th in the Forbes Rich List with a fortune of $2.4bn (£1.5bn).
