Billionaire puts Camden Market up for sale for £1.5bn

CAMDEN Market is up for sale with bids starting around the £1.5bn mark for those wanting to acquire one of London’s most popular tourist attractions.

The destination is owned by Israeli billionaire Teddy Sagi through his Labtech venture. Mr Sagi bought the Camden Stables Market in March 2014 for £400m and Camden Lock Market that October for £100m, bringing them under single ownership for the first time.

A “discreet sales process” has begun, the Financial Times reported, citing two sources with knowledge of the sale.

A “handful” of prospective bidders were contacted about buying the market and adjacent homes and offices, the newspaper said, reporting that Rothschild had been engaged as advisers.

Best known for its eclectic mix of art and fashion traders, Camden Market was floated in London in 2014 at 200p a share, valuing its holding company at £750m. Three years later Mr Sagi, who also founded the gambling technology company Playtech, delisted the business.

Labtech did not respond to requests for comment.