Member Article

Camden Market owner expands Central London property portfolio

Market Tech Holdings, the holding company that owns and manages the main Camden Markets in Central London, has exchanged contracts to acquire a 0.84 acre property, hosting small businesses, for a total consideration of £44m.

The property, known as Utopia Village in Chalcot Road, London, NW1, is located close to the Group’s principal Camden Markets site and currently comprises 29 individual units totalling a net internal area of approximately 44,500 square feet

The group, which is owned by Israeli billionaire Teddy Sagi, plans to operate the complex primarily as a fully serviced co-working office environment where businesses can rent ‘flexible accommodation.’

The Group is currently developing similar facilities at its main Camden Markets siteand Utopia Village is intended to add further capacity.

Charles Butler, Market Tech chief executive officer, said: “As with our recent transactions, we are establishing the foundations to support our strategy to reinvigorate Camden Market and its surrounding area - bringing the Markets to a wider global audience and creating an environment where bright new entrepreneurs can grow innovative businesses.

“The acquired site extends the Group’s estate and will be complementary to our offering as a full service solution provider for businesses, which when combined with similar facilities in Camden will in total create co-working space for in excess of 1,500 people.

“This is a key element of our strategy to create a world class living, working, retail and leisure destination”

This was posted in Bdaily's Members' News section by Ellen Forster .