Playtech’s billionaire founder to sell Camden Market estate for £1.5bn
Popular tourist destination Camden Market is reportedly undergoing a quiet sale process, which could fetch its billionaire owner around £1.3bn.
While Israeli magnate and Playtech founder Teddy Sagi is hoping to bag £1.5bn for the 16-acre estate – which includes three markets – he has not put a firm price tag on the deal, the Financial Times first reported, citing people familiar with the matter.
The new owner of the estate, which spans Stables Market, Camden Lock and Buck Street, can expect to rake in around £72m a year in rent.
Sagi snapped up the Stables Market site in 2014 for £400m, alongside restaurateur Richard Caring. And later bought Camden Lock market for around £70m to £90m.
“It’s a very different proposition to just the old market,” said one person with knowledge of the sale, nodding to how many of the markets’ independent sellers have been replaced by larger brands over the years.
Rothschild & Co has been appointed as a financial adviser on the deal, which features markets, leisure spaces, offices and homes.