17th Feb 2016 07:37
LONDON (Alliance News) - Property developer Market Tech Holdings PLC on Wednesday said it has exchanged contracts to acquire a property in King's Cross in north London for around GBP36.7 million in cash.
Market Tech, which owns and operates the main Camden market properties in north London, said it has acquired the freehold on 101 Camley Street, located close to the King's Cross redevelopment area.
The site has planning consent in place for a mixed-use development including 22,650 square feet of commercial space, along with 91 new homes and 30 affordable or shared ownership properties.
Market Tech expects the deal to complete by November this year.
"With 101 Camley Street we are securing an outstanding location further along the Regent's Canal from our Hawley Wharf development, taking us into the King's Cross 'tech belt', at a very attractive price. The property enables us to expand our co-working and flexible office operations as well as delivering a strong, long term rental growth opportunity for the group," said Charles Butler, Market Tech's chief executive.
By Sam Unsted; [email protected]; @SamUAtAlliance
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