Teddy Sagi on his way to a billion-dollar deal: Camden Market is up for sale

Teddy Sagi (Flash Photography 90 / Yossi Zeliger)

Camden Market has been put up for sale, with Israeli billionaire Teddy Sagi hoping to attract bids in the region of £ 1.5 billion for the abundance of stalls, bars, venues and residences that make up the historic and cultural venue.

Financial advisor Rothschild & Co. was appointed by Sagi and a discreet sale process was launched, when last week they contacted a handful of potential bidders, say two people with knowledge of the deal. Sagi hopes to charge around £ 1.5 billion for one of London’s busiest tourist destinations, although he has not set a solid price, according to these people.

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The 16-acre complex includes a trio of markets – Stables Market, Camden Look Market and Back Street Market – as well as housing and new work offices. Sagi, founder of gaming software company Playtech, first acquired Camden, which attracts nearly 30 million visitors a year, in 2014.

The Israeli entrepreneur acquired Stables Market, which includes a variety of food, fashion and art stalls, from a consortium of property developer Chelseafield and restaurateur Richard Carring for £ 400 million in 2014. He then acquired Camden Luke Market, which specializes in the arts, Crafts and handmade items, from private investment firm Rockton Capital for between £ 70m and £ 90m, according to reports at the time.

Sagi’s ownership has changed the mix of tenants in Camden, with many of the small, independent traders the market was known for gradually being replaced by larger brands and leisure businesses. A new indoor recreation center called Babylon Park, which spans three underground floors with a roller coaster and complexes, is the latest addition to the complex.

Globe Invest, Sagi’s family firm and investment instrument, and LabTech did not respond to a request for comment. Rothschild declined to comment, reports follow another report by Robert Smith in London.

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• 1.

  London

  Uncle
  

  06/2022/03

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  No. Know if he will be able to get £ 1.5 billion. It’s a little hilly. every.

  closed