Business

Labtech announces £200m property acquisition

Tech company Labtech have announced their latest acquisition in a string of high profile property investments. The London-based company has bought a 197,000 square foot (sq ft) office building valued at £200m at 90 High Holborn. LabTechs Holborn portfolio also includes LABS House, Southampton Place and Hogarth House.

This is the first acquisition to date overseen by Labtechs new CEO Chen Moravsky, who previously served as the deputy chief executive and CFO of PPHE Hotel Group. “90 High Holborn is Labtechs most exciting acquisition in Central London to date,” said Moravsky. “Im absolutely delighted to add it to our growing property portfolio. This latest investment reflects our commitment to re-energising Camden and Holborn.”

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The Holborn building houses 3,671 workers from a range of different industries. Labtech is planning on modernizing the building by installing its operational tech platform, which allows workers to easily share resources digitally and book meeting rooms using cutting edge Bluetooth low energy technology.

“Labtech aim to inspire and enable people to work, live and play in a unique collaborative ecosystem,” said Moravsky. “From start-ups, SMEs and traditional businesses, Labtech is housing the future of the British economy and I am a firm believer in the prospects of London and UK.”

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