Playtech Founder Adds Camden Lock Market to His Properties

An Israeli billionaire bought the Camden Lock Market in a deal estimated to be worth between 70 and GBP90 million.

Property and technology tycoon Teddy Sagi is slowly taking over Camden’s main market places. Working with the casino industry has helped him make hundreds of millions and now gambling news have introduced him as the new owner of the world-renowned market. Just a few months ago he made another GBP400 million investment in the area.

Back in the 1990s, Sagi served nine months in jail for insider trading and bribery. Now he is worth GBP2 billion and just added 250 stalls, 50 shops, 20 workshops and studios to his portfolio of properties. The investor has plans to revive the Camden business.

Camden Market Holdings property director Mark Alper said: “We are delighted to have purchased Camden Lock Market. We are not just gaining an iconic market, but a world renowned brand and great traders, retailers and management team. We intend to continue the current planning process for Camden Lock Market as part of our long-term plans and extensive investment in the town center.”

Huge redevelopment plans

Hawley Wharf has already received permission for a GBP300 million redevelopment plan. The project includes 170 homes, a new market area, an art-house cinema and a school. Construction in scheduled to begin next year, in January.

“Over the last three years we have greatly improved the appearance, operation, management and food and beverage offer at Camden Lock Market, resulting in a market which appeals to local people and visitors alike,” a Brockton Capital spokesperson said.

“We are pleased to be passing on the market to our neighbors, so that they can take forward a genuinely holistic approach to Camden Lock, Hawley Wharf and Stables Markets and we are delighted that they will take on the highly regarded management team as well.”

Sagi is the founder of Playtech, one of the most profitable companies in the online gambling industry. After UK gambling laws introduced internet casinos, the Israeli businessman made a fortune on the British market.