Partner Article

Owner of Camden Market sees strong demand for office and retail despite Brexit

Market Tech Holdings, the owners of Camden Market, have revealed robust growth across its portfolio as the property group hailed the ‘resilience’ of its portfolio in light of ongoing political and economic worries.

The group, which owns and operates the 16 acre site in and around Camden Market, saw the value of its portfolio increase 8.4% in the six months to 30 September, topping £1,070m fuelled by a revaluation gain and ‘continued leasing success’ across the estate.

It helps that Camden still remains a desirable place for people to live and do business, and this was underlined by the 15 new leases and 10 renewals secured by Market Tech in the period, as demand for office and retail space remained strong.

Year-on-year revenue was also up 14.1%, rising to £71m compared to the £62.2m in the first half of 2015.

It comes as a number of ongoing office developments and co-working spaces continue crop up across the estate, with work on the area’s flagship 580,000 sq ft Hawley Wharf scheme continuing.

UK footwear brand, Dr Martens, also signed on for its new European headquarters and flagship store at the market this week.

Charles Butler, Market Tech Holdings’ Chief Executive Officer, said that the group’s strong performance since the EU referendum emphasised the ‘ongoing appeal’ of the Camden Estate, and that the firm was working on making the area even more attractive for Londoners.

He said: “While, 28 million people already visit the Camden every year we are committed to expanding its appeal to attract more Londoners and people who want to live, work and play in the area, while maintaining the area’s important cultural heritage and integrity.

“Furthermore, with leasing activity due to commence at our flagship Hawley Wharf mixed use development early next year, we look to the future with increased confidence.”

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