90 High Holborn sold for £180 million, a gain of £385 million for Teddy Sagi Group
The Teddy Sagi Group has been steadily realizing its assets, concluding its Holborn holdings with the sale of its final property. LabTech has now sold all six of its Holborn properties, with the 90 High Holborn transaction alone closing at £180 million. The entire portfolio generated capital gains of approximately $500 million (£385).
Sagi first invested in Holborn in recent years, holding various properties for between two and four years. With all six properties sold, LabTech has achieved significant returns.
Holborn, located in Central London, is considered one of the capital's most prestigious districts, with parts in Westminster, Camden (where Sagi also owns Camden Market), and the City of London. In addition to 90 High Holborn, the other five properties sold by Sagi in the district over nearly a decade include Holborn Link, Victoria House, Labs House (the co-working space brand owned by Sagi), Herbrand Street, and Selkirk House. The 90 High Holborn building, now sold to UK investment company Greycoat, comprises 17,000 square meters of office space.
Notable tenants at 90 High Holborn include the Labs co-working chain, which will continue operating in the building. Labs currently has nine locations across London, providing workspace for over 6,000 people in 350 businesses of all sizes, with occupancy rates exceeding 90%. Other high-profile assets previously sold by the Sagi Group include Holborn Links, Victoria House, and Travelodge.
With the Holborn exit now complete, Sagi is fully moving on from the district, yet remains committed to exploring new investment opportunities in London. LabTech, which specializes in property acquisition, development, and management, is actively seeking new acquisitions and partnerships in London, aiming to maintain and grow its impact on the city's real estate market.
LabTech CEO Eylon Garfunkel commented, "The sale of 90 High Holborn represents a key milestone in our strategy of transforming commercial real estate. We focus on properties with a prime location, the potential to add value for tenants, and strong occupancy levels."
