According to the Financial Times, Teddy Sagi, an Israeli millionaire, has put Camden Market in London up for sale. Sagi intends to get bids in the area of £ 1.5 billion for the famed 16-acre market, which includes vendors, bars, and even residential and commercial buildings, according to the newspaper.
Sagi’s family firm and investment manager, Globe Invest, did not reply to the claim, but the Financial Times reported that Sagi had recruited financial advising firm Rothschild & Co. and that a secret sale process had already begun, with a number of possible buyers contacted last week. Who is aware of the situation?
With over 30 million people every year, Camden Market is one of London’s busiest tourist attractions. There are three markets in the property (Stables Market, Camden Look Market, and Back Street Market), as well as housing and office space, as previously indicated.
In 2014, Sagi All purchased houses in the Camden complex. Stables Market, which comprises a range of food, fashion, and art stalls, was purchased for £ 400 million from a group led by property developer Chelseafield and restaurateur Richard Carring. According to sources at the time, he bought Camden Luke Market, a specialist in arts, crafts, and handcrafted things, from private equity firm Rockton Capital for between £ 70m and £ 90m.
Teddy Sagi / Jonathan Bloom photo
The property, which is held by LabTech, a Sagi portfolio company, was put on the market in the summer of 2019. This procedure almost resulted in a sale, with the price rising to over £ 1 billion, but the deal fell through because to the Corona pandemic. More than £72 million was spent. A piece in the Financial Times received no response from LabTech.