LabTech completes 90 High Holborn sale for £180M

1 November 2024,

• The sale is one of the largest in the London office market in 2024

• The sale completes a successful strategy for LabTech, generating £385 million in profit ($500 million USD)

• The historic 183,000 sqft building houses over 3,500

London – LabTech, the property developer owned by Teddy Sagi, has sold 90 High Holborn for £180 million, in one of the largest and very few investment transactions in the London office market this year. Purchased by LabTech in 2018, the 90 High Holborn building comprises 183,000 sqft workspace centred around Holborn’s famous Sicilian Avenue.

The sale marks the completion of a series of successful transactions within Holborn and a five-year long strategy that has delivered profits exceeding £385 million for the group, inclusive of rental income. Sagi’s success within the area was achieved through the acquisition, development, and management of prominent assets.

90 High Holborn is amongst the key Holborn assets Sagi has sold since 2020, including Holborn Links Estate, Victoria House, LABS House, Herbrand Street, and Selkirk House (Travelodge), each of which contributed significantly to the portfolio’s value and Sagi’s long-term vision.

One of the main tenants of 90 High Holborn is LABS, the flexible workspace brand of LabTech. Founded in 2017, LABS provides coworking space to over 6,000 people from 350 business of all sizes, across nine locations in the heart of Camden and in the West End. All LABS spaces have over 90% occupancy rates. LABS will continue to operate in 90 High Holborn, as usual.

A few minutes’ walk from Holborn station, 90 High Holborn’s beautifully designed interiors house a variety of workspaces, event spaces, and meeting rooms for the building’s more than 3,500 workers. Floor to ceiling windows flood the workplace with natural light, whilst external terraces on several floors provide outdoor areas where people can collaborate or relax and unwind. The landmark office building also has a fully equipped gym for members to use at their leisure and its elegant reception with café has been designed to deliver a highly desirable client facing environment.

Bordering the City of London and sitting between the financial district and the vibrant West End, Holborn has been transformed by private investment in recent years into a hub for blue-chip businesses including Google, Warner Bros and Yahoo.

Eylon Garfunkel, CEO of LabTech, said: “The sale represents a key milestone in our strategy to acquire and transform commercial assets with strong fundamentals in terms of location, ability to add value and high occupancy rates.”

Teddy Sagi and LabTech will continue to explore future opportunities, actively seeking new acquisitions and partnerships within London to maintain and expand their impact on the capital’s property landscape.

About LabTech
LabTech is a London-based property investor specialising in office space, long-stay serviced apartments and retail in London and across the globe. LabTech’s portfolio spans 1 million square feet of commercial real estate in some of London’s most vibrant locations, including the West End and Camden, as well as internationally.

LabTech owns and operates the world-famous Camden Market, a hub of creativity, and home to over 1000 diverse traders.

Media Enquiries
Annie Croll, ING Media [email protected] +44 7834 789431
Marie Da Silva, LabTech [email protected] +44 7564 580583