Strategic real estate acquisition

Market Tech Holdings Limited

("Market Tech", "the Company" or "the Group")

Strategic real estate acquisition

Market Tech Holdings Limited (MKT: AIM), the holding company that combines iconic real estate assets with an e-commerce business and owns and manages the main Camden Markets in Central London, announces that it has exchanged contracts to acquire the freehold property comprising 1-11 Hawley Crescent NW1 ("Hawley Crescent"), for a total consideration of £31.1 million including stamp duty of £1.2 million, to be funded from existing facilities. The freehold property is in a strategically important location within the Group's property portfolio sitting opposite a property currently occupied by MTV.

Hawley Crescent which is primarily let to the Open University, includes commercial as well as residential units and is located next to the Group's main Camden Markets site. Its commercial floor area totals 19,720 sq ft in addition to a further 5,260 sq ft of 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. 

The total consideration is to be paid in cash with completion set for 28 July 2015.

Charles Butler, Market Tech Chief Executive Officer, 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."

Mark Alper, Market Tech Property Director, said:

"The Hawley Crescent building extends the Group's estate and we are especially delighted that, in the Open University, we have a high quality educational tenant that adds to our Camden ecosystem."

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About Market Tech

Market Tech combines the iconic Camden Market real estate assets with an e-commerce business operated through online platforms camdenmarket.com and market.com. Its real estate assets business is focused on retail, leisure and entertainment. The Company owns approximately 11 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, (also 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 and Utopia Village in Primrose Hill.

In recent months the Company has acquired two e-commerce businesses, enhancing its online platform. These strategic acquisitions have included Stucco Media, an e-commerce marketing platform; and Glispa, a Berlin-based mobile marketing business.

www.market-tech.com