8th Feb 2016 07:00
Market Tech Holdings Limited
("Market Tech" or the "Company")
Grant of Detailed Planning Permission for Development of Camden Lock Market
Market Tech Holdings Limited, (LSE: MKT) the holding company that combines approximately 15 acres of iconic London real estate assets, including the main Camden Markets, with digital capabilities to deliver a living, working, retail and leisure space, is pleased to announce that Camden Council Development Control Committee has unanimously approved the Planning and Listed Buildings Applications for development of Camden Lock Market.
The approved proposals are for approximately 130,000 sq ft gross external area (GEA) and include new enlarged indoor and outdoor market retail facilities, cafes and restaurants, galleries and canal-side food hall, as well as new workspace and an auditorium for live entertainment. The proposal also includes permission for 233 food and artisan stalls in the East and West Yards.
The scheme was designed by award winning architect Stuart Piercy and significantly supported by Historic England, (previously English Heritage) which considered the proposals to be a sensitive approach to upgrading the market for the 21st Century with a high-quality, contemporary design that will preserve and enhance the surrounding area.
Commenting on the planning permission, Market Tech's Group Property Director, Mark Alper, said:
"The unanimous vote demonstrates Camden Council's continuous confidence in Market Tech's strategy for Camden Town and the high quality of submitted schemes. Camden Lock Market's planning permission is a major step in Market Tech's growth strategy through development that maximises opportunities and value for the most iconic market within our estate."
Market Tech Chief Executive Officer, Charles Butler commented:
"I would like to take this opportunity to thank Mark and his team, who have designed a landmark scheme which delivers working, leisure and retail space in line with Market Tech's vision for Camden."
- Ends -
For further information:
Market Tech Charles Butler, Chief Executive Officer Andrew Bull, Chief Financial Officer c/o Bell Pottinger
| +44 (0) 20 3772 2500 |
Bell Pottinger David Rydell Olly Scott James Newman Anna Legge | +44 (0) 20 3772 2500 |
About Market Tech
Market Tech combines the iconic Camden Market real estate assets with digital technology to deliver a living, working, retail and leisure environment. The Company owns approximately 15 acres of real estate assets in Camden, including the Stables Market; Union Street Market, (also known as Buck Street Market); Camden Lock Market; and Hawley Wharf, (formerly known as Camden Lock Village). It also owns separate real estate assets on Camden High Street; Kentish Town Road; properties on Jamestown Road, (including the Camden Wharf Building); The Interchange Building on Oval Road, Utopia Village in Primrose Hill, 1-11 Hawley Crescent and 49 Chalk Farm Road.
The Company owns three e-commerce businesses, referred to as Market Tech Digital. These are Stucco Media, an e-commerce marketing platform, Glispa, a Berlin-based mobile marketing business and Fiver, a B2C online fashion retailer.
www.market-tech.com
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