Serial sector investor Richard Caring is set to gain a “warchest” for further restaurant and club acquisitions in London, after the sale of significant part of Camden Market and Wentworth golf club.
It is thought that Caring will pick up c£100m from his stake in Camden, which according to the Evening Standard has been sold in a £400m deal. He is also set to make £160m from the imminent sale of Wentworth.
The newspaper suggest that much of the proceeds from the two deals are likely to be re-invested in London’s eating and drinking-out sector, further pushing prices up across an already competitive market.
Caring, who has owned his holding in Camden Stables Market since 2005, has made a substantial profit on his original £40m investment.