Camden Market To Float On Stock Exchange

James Drury
By James Drury Last edited 40 months ago
Camden Market To Float On Stock Exchange

Camden Market is to get a major revamp if a £100m is raised on the stock market. Photo by LeePellingPhotography.co.uk via the Londonist Flickr pool.

Camden Market will get a new food market, a primary school, new offices and housing after it's floated on the stock market, the company which owns the site says.

Market Tech Holdings (MTH) hopes to raise £100m from investors through the Alternative Investment Market (AIM) later this month. The company — which is worth £750m — says it will invest the cash in the 11-acre site, developing the Camden Lock Village area along Regents Canal to the east of Chalk Farm Road. It will also develop its market.com e-commerce business, which sells clothes, accessories and bags for £5.

The aim is to attract “young fashion upstarts, music, creativity and people who make things” to the area, Charles Butler, CEO of MTH told the Financial Times.

The company is backed by Israeli billionaire Teddy Sagi, who founded online gambling software company Playtech. He spent £500m buying Camden Lock and the Stables Market, bringing them together under one owner for the first time.

Last Updated 09 December 2014

Mark

I would LOVE to see the justification for MTH's valuation. Many of the retail units that were built a few years ago on Stables market are still empty - and the accounts for Stables market show that they had a turnover of £8M last year and net income of £1.7M - and yet MTH bought Stables for £400M.

Only way I can think of justifying that valuation would be to use the land for redevelopment - as they are already proposing for the Camden Lock Village market.

Thom A

The aim is to attract “young fashion upstarts, music, creativity and people who make things” to the area"

Who is going to be able afford it? London creativity is getting killed by rich sons and daughters buying it up left-right-and-centre and forcing rents up and forcing out creatives out.

London is going to die on its face if we don't get a handle on foreign investors emptying London of its talent.

JohnnyFox

It seems we learned very little from the renovation of Covent Garden itself which - save a few good independent shops - is mostly sellers of coffee, confectionery and touristic gewgaws. Part of the, er, 'charm' of Camden is that it's organic (yes, like that other well-known organic substance) and washing out its Augean stable will almost certainly change all that in the interests of someone other than the stallholders making a profit from it. And, yet again, why does it have be backed by a billionaire overseas investor - if it's worth doing, why aren't British entrepreneurs behind it?

YessahMeSay

Camden Market will get a new food market,
[NOT REQUIRED]

a primary school,
[SO I CAN'T SMOKE A SPLIFF NEAR THE MARKET ANY MORE WITHOUT YUPPIES AND PRAMS BEING AROUND WHICH I WON'T BREATHE SMOKE NEAR OUT OF ETHICS = WORSE, NOT BETTER FOR VIBE AS ALCOHOL WILL STILL BE SOLD WIDELY]

new offices
and housing
[DON'T CONGEST A PLACE MORE THAN IT NEEDS TO BE TO PROVIDE THE SIMPLEST OF ITS FUNCTIONS - THERE'S PLENTY OF SPARE SPACE IN LONDON IN BROWNFIELD SITES AND MUCH ABUSED IS THE PLANNING PERMISSION PROCESS].

after it’s floated on the stock market, the company which
owns the site says.

BANKERS AND THEIR SYSTEMS BRING NOTHING HUMAN TO THE TABLE (except metaphorically if you think of their 'prey' as being human victims to the slaughter and eaten as 'meat').

hostile_17

Oh dear. Poor Camden Market.