Camden Market owner plots £1.3bn sale – report
Major London shopping and tourist destination Camden Market is up for sale with a £1.3 billion price tag, according to a news report.
The historic North London destination is popular with tourists seeking out its canal-side market featuring a variety of fashion, arts, crafts, and food stalls, alongside retail stores, bars and restaurants. It attracts around 30 million visitors a year.
Owner billionaire Teddy Sagi has launched a discreet sales process, according to the Financial Times, with financial adviser Rothschild & Co hired to oversee the potential sale.
It’s understood the company has approached a handful of prospective bidders in the past week, two people with knowledge of the deal told the FT.
The 16-acre estate includes a trio of markets — Stables Market, Camden Lock Market and Buck Street Market — as well as new housing and co-working offices. Sagi first bought into Camden in 2014 for £400 million. He then purchased Camden Lock Market for between £70 million-£90 million, according to reports at the time.
Under Sagi’s ownership, the mix of tenants in Camden has changed, with many of the indie traders, for which the market was once known, gradually replaced by bigger names as well as leisure businesses ( attend being see in shopping destination UK-wide).
Neither Sagi nor Rothschild have commented, the FT said.