Real estate company, Market Tech Holdings, has revealed plans to develop a boutique hotel in London’s Camden market in a bid to regenerate the high street there.
Market Tech, which owns real estate in Camden in North London, said it already has planning permission for a two-storey building at Union Street Market, the open-air market on Camden High Street, and now hopes to get the green light for a boutique hotel.
The company said that a hotel of this calibre is a “key step” in regenerating Camden High Street, highlighting the need to attract higher quality tenants.
Market Tech Holdings pretax profits increased to £44.1m from £16.9m in the year ending March 31, as revenue increased to £30.1m from £18.4m.
Chief executive Charles Butler said in a statement:"We have already commenced reinvigorating the unique Camden experience and truly believe that this unique circa 13 acre real estate opportunity, combined with a world-wide integrated e-commerce strategy, has created one of the most exciting opportunities in the UK – for retailers and shareholders alike. Together we have a very exciting future together,"