News

Briefing: Camden united

News

Joanna Bourke

20 October 2014

Investment/finance, Retail

England, London

With the £70m purchase of Camden Lock last week, all of Camden’s famous markets are under one owner for the first time, unlocking huge development potential

Israeli billionaire Teddy Sagi last week completed a £500m spending spree to buy all of the famous Camden markets and bring them under one owner for the first time.

Sagi bought Camden Lock Market, NW1, for around £70m from Brockton Capital, meaning he has now bought all of the four premier markets in the area since the start of the year.

It marks an ambitious play by the founder of gaming software company Playtech to capitalise on redevelopment opportunities, including a large project at Hawley Wharf comprising 170 homes, shops and a cinema. Stanley Sidings, the management company for Camden Market Holding Company has also been bought as part of the latest sale.

Single ownership will enable Sagi – ranked 748th in the Forbes Rich List with a fortune of $2.4bn (£1.5bn) – to reap the benefit of strong investor returns, which stood at 18.5% in Camden last year, compared with a 14.2% return for the rest of London, according to IPD and LEVY Real Estate.

Camden Lock

Sagi paid around £70m to Brockton Capital for 1-acre Camden Lock market. The land comprises 50,000 sq ft of space and includes more than 250 stalls, shops and restaurants. Plans for a revamp are expected.

Stables Market

Richard Caring, Bebo Kobo and Sir Stuart Lipton’s Chelsfield company sold their stakes in circa 1-acre Stables Market and 4.6-acre Hawley Wharf for £400m in March. The Stables Market is home to 450 shops and stalls, and has potential for a revamp.

Hawley Wharf

Hawley Wharf was sold as part of a package with Stables Market for around £400m in March. The site, bounded by Chalk Farm Road, Kentish Town Road and Regent’s Canal has planning consent for 170 homes, shops and a cinema.

Buck Street

The iconic 0.3-acre Buck Street Market was bought for £22m earlier this month from a private vendor. It is home to 206 stalls and a separate 4,000 sq ft office and retail block at 190 Camden High Street. Plans are being worked up for a 17,000 sq ft canopy to increase the retail space by 49%.

With the £70m purchase of Camden Lock last week, all of Camden’s famous markets are under one owner for the first time, unlocking huge development potential Israeli billionaire Teddy Sagi last week completed a £500m spending spree to buy all of the famous Camden markets and bring them under one owner for the first time. Sagi bought Camden Lock Market, NW1, for around £70m from Brockton Capital, meaning he has now bought all of the four premier markets in the area since the start of the year. It marks an ambitious play by the founder of gaming software company Playtech to capitalise on redevelopment opportunities, including a large project at Hawley Wharf comprising 170 homes, shops and a cinema. Stanley Sidings, the management company for Camden Market Holding Company has also been bought as part of the latest sale. Single ownership will enable Sagi – ranked 748th in the Forbes Rich List with a fortune of $2.4bn (£1.5bn) – to reap the benefit of strong investor returns, which stood at 18.5% in Camden last year, compared with a 14.2% return for the rest of London, according to IPD and LEVY Real Estate. Camden Lock Sagi paid around £70m to Brockton Capital for 1-acre Camden Lock market. The land comprises 50,000 sq ft of space and includes more than 250 stalls, shops and restaurants. Plans for a revamp are expected. Stables Market Richard Caring, Bebo Kobo and Sir Stuart Lipton’s Chelsfield company sold their stakes in circa 1-acre Stables Market and 4.6-acre Hawley Wharf for £400m in March. The Stables Market is home to 450 shops and stalls, and has potential for a revamp. Hawley Wharf Hawley Wharf was sold as part of a package with Stables Market for around £400m in March. The site, bounded by Chalk Farm Road, Kentish Town Road and Regent’s Canal has planning consent for 170 homes, shops and a cinema. Buck Street The iconic 0.3-acre Buck Street Market was bought for £22m earlier this month from a private vendor. It is home to 206 stalls and a separate 4,000 sq ft office and retail block at 190 Camden High Street. Plans are being worked up for a 17,000 sq ft canopy to increase the retail space by 49%.