Teddy Sagi’s LabTech Group plans to double the size of its real estate portfolio as it eyes expansion in Europe.
Speaking at a press briefing in Holborn, chief executive Chen Moravsky said the group would aim to expand its 2m sq ft portfolio to 4m sq ft by 2021.
As part of this, the London-based company is looking to expand into Europe – into countries such as Spain, France and Holland.
Moravsky said: “We will double our real estate portfolio in the next three years. We are looking at Europe but London will remain the hub for 80% of our portfolio.”
Moravsky was appointed chief executive in February. He was formerly deputy chief executive and chief financial officer of PPHE Hotel Group (where he led operational, fiscal and business development activities).
LabTech is underpinned by a growing international property portfolio, with significant assets in Camden and central London, including Holborn’s iconic Sicilian Avenue.
It also owns a 140,000 sq ft mixed-use scheme in King’s Cross, which is due to open in around 18 months.
Of the 2m sq ft in real estate LabTech currently owns, only 40% has officially opened.
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