Camden Market: Difference between revisions

A small local foodstuffs market has operated in Inverness Street in Camden Town since the beginning of the 20th century, the only significant market in the area. On 30 March 1974 a small weekly crafts market that operated every Sunday near Camden Lock developed into a large complex of markets.<ref>{{cite web | urltitle=The Early Years | publisher=Camden Market | date=Jan 20, 2016 | url=https://www.camdenmarket.com/journal/the-early-years | title archive-url= The https://web.archive.org/web/20190711191741/https://www.camdenmarket.com/journal/the-early -years | accessarchive-date =Jul 11 July, 2019 | url-status=live}}</ref> The markets, originally temporary stalls only, extended to a mixture of [[market stall|stalls]] and fixed premises. The traditional Inverness Street market started losing stalls once local [[supermarket]]s opened; by mid-2013 all the original stalls had gone, being replaced by stalls similar to those of the other markets, including fast food but not produce.

Since 2014 most of the markets were acquired by Israeli billionaire [[Teddy Sagi]],<ref name=Globes/> who heavily developed them from stalls set up for the day to permanent structures. In 2022 Sagi's company LabTech<ref name=forbes>{{cite web | title=Teddy Sagi profile| website=Forbes| url=https://www.forbes.com/profile/teddy-sagi/ | access-date=11 November 2023}}</ref> offered them for sale, hoping for a price of around £1.5 billion.<ref name=forsale/><ref name=forsalet/> Status was not known {{As of|2023|9|lc=y}}.<ref name=rowlinson>{{cite news| title=New homes are part of Camden Town's revamp |first=Liz|last=Rowlinson| newspaper=Financial Times | date=27 September 2023 | url=https://www.ft.com/content/224c11c4-4038-41d5-9438-aa5019f3a53b}}</ref>

In 2014, Israeli billionaire [[Teddy Sagi]] started buying property in the Camden Market area.<ref name=Globes>{{cite news|title=Teddy Sagi buys more Camden Market properties|url=http://www.globes.co.il/en/article-teddy-sagi-buys-more-camden-market-properties-1001015303|access-date=22 April 2015|work=Globes|date=3 March 2015}}</ref> By March 2015, having purchased the four most important of the six sections of the market, he announced plans to invest £300&nbsp;million in developing the market area by 2018. The markets, initially a collection of simple stalls plus the Stables building, were heavily developed with permanent structures. In 2022 they were offered for sale with [[investment bank]] [[Rothschild & Co]] overseeing the sale process, the owner hoping for a price of around £1.5 billion for the markets plus housing, co-working spaces, {{Convert|35000|sqft|order=flip|adj=on}}<ref name=forsale>{{Cite news |title=London's iconic Camden Market put up for sale |author=<!--not stated--> |website=BBC News |date=4 June 2022 |url= https://www.bbc.co.uk/news/business-61680387}}</ref><ref name=forsalet>{{Cite news|url=https://www.ft.com/content/b4b9b680-c0e2-4544-8ee3-fde732058506|title=London's Camden Market owner sets out stall for £1.5bn sale|newspaper=The Telegraph|date=2 June 2022|url-access=subscription}}</ref> and a three-floor leisure centre called Babylon Park.<ref>{{Cite news |title=New family entertainment leisure offer heading for Camden Market Hawley Wharf |author=<!--not stated--> |work=Retail Destination |date=15 March 2022 |url= https://www.retaildestination.co.uk/new-family-entertainment-leisure-offer-heading-for-camden-market-hawley-wharf/}}</ref> Status was not known {{As of|2023|9|lc=y}}.<ref name=rowlinson/>