18th Jun 2015 10:21
LONDON (Alliance News) - Market Tech Holdings Ltd Thursday said it has exchanged contracts to buy the freehold property of 1-11 Hawley Crescent in London for GBP31.1 million including GBP1.2 million of stamp duty.
The manager of the main Camden Markets in London said the property is in a strategically important location within its property portfolio, sitting opposite a property currently occupied by MTV and next to the main Camden Markets site. It is primarily let to the Open University, and includes commercial and residential space.
"The commercial leases are on upwards only rent reviews and the group considers that current rents are low in comparison to the surrounding area," it said.
"Today's acquisition continues the group's strategy to create a world class living, working, retail and leisure destination - establishing the right asset base from which Camden Markets and its surrounding area can be reinvigorated," Chief Executive Charles Butler said.
Market Tech shares were up 0.8% at 252.00 pence Thursday morning.
By Steve McGrath; [email protected]; @stevemcgrath1
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