Teddy Sagi buys Holborn Links for $366m

Teddy Sagi
Teddy Sagi

The Israeli billionaire has bought four acres of London buildings between Soho and Covent Garden.

After buying London's popular Camden Market, Israeli billionaire Teddy Sagi is expanding his property portfolio in the British capital by purchasing Holborn Links Estate. Sources inform "Globes" that Sagi is buying Holborn Links for an estimated 300 million ($366 million) from a group of investors advised by Triangle Group. Holborn Links is a portfolio of 34 properties comprising 465,000 square feet in Central London.

Sagi, 45, is buying the property through Citwax Investments Ltd., the parent company through which the Israeli holds 71% of Market Tech Holdings Ltd. (LSE: MKT), which owns Camden Market and adjacent properties in Primrose Hill, Bloomsbury and Kings Cross comprising an overall 16 acres.

The Holborn Links portfolio is a four acre estate located in central London neighbouring Covent Garden, Soho and Oxford Street. Tenants includes office, educational, retail, restaurant and residential buildings in Southampton Row, Southampton Street, Barter Street and the iconic Sicilian Avenue. In addition to the strong existing transport links, the area will benefit from Crossrails opening in 2018, which will bring 1.5 million more people within commuting reach of the area and further strengthen its appeal to tenants.

Citwax plans to develop the portfolio to create new quality space for SMEs and startups, as well as maintaining its existing mix of tenants.

Sagi said, I am pleased to have made this investment as I believe in the long-term fundamental strength of London. It is vital that London retains the best global talent and businesses to ensure the capitals future as a global city and the Holborn Links Estate is an ideal base for Londons future business leaders.

This is Sagi's second largest real estate deal in London after the purchase of Camden Lock and surrounding properties for 500 million in 2014. Sagi, whose wealth is worth an estimated $4.5 billion, subsequently floated Camden Lock on the London Stock Exchange through an IPO for Market Tech.

Sagi also has a controlling interest in three other companies traded in London: online gambling platform developer Playtech Cyprus Ltd. (LSE:PTEC), which has a market cap of $3.7 billion, clearing solutions developer Safecharge with a market cap of $408 million, and app distributor Crossrider, which has a market cap of $63 million.

Published by Globes [online], Israel business news - www.globes-online.com - on October 13, 2016

Copyright of Globes Publisher Itonut (1983) Ltd. 2016

Teddy Sagi
Teddy Sagi
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