One of London's most iconic tourist destinations is facing a wave of criticism, with visitors and residents branding it 'awful' and lamenting its dramatic decline. Camden Market, once a global beacon for alternative fashion and unique crafts, is now accused of being filled with 'absolute tat' and losing its original spirit.
From Alternative Haven to 'Hedge Fund Manager's Idea of Alternative'
The backlash was ignited by a tourist's post on Reddit, who visited the market last week and was deeply disappointed. Having not been to London for years, he found the stalls offered 'nothing original' and a far cry from the grungy, trendy hub he remembered. His sentiment was overwhelmingly echoed in the comments.
Local residents from areas like Chalk Farm agreed, stating the market has 'gotten very sh*** over the last ten years'. Many pinpointed the root cause as the acquisition of the market by billionaire Teddy Sagi. Starting in 2014, Sagi's company, LabTech, bought up property and by 2015 controlled four of the market's six key sections. Critics argue this corporate ownership 'ripped the life and soul out of it in search of more profit,' transforming it into a 'shopping centre' or 'Westfield for tourists'.
Fires and the Forced Exit of the 'Old Traders'
The market's physical character has also been irrevocably altered by a series of devastating fires. A major blaze in 2008 destroyed a significant portion, including the famed Hawley Arms pub. Further fires hit the Camden Stables Market in 2014 and the Camden Lock Market in 2017.
While new structures were built, many argue they lack the quality and charm of the originals. This loss of authentic fabric is compounded by the exodus of long-standing vendors. One visitor in their 60s recalled asking an 'Old Trader' what happened, to which she sadly replied, 'They forced us out.' This sentiment is shared by former regulars, including old punks and goths, who say the area is simply not the same since the fires and the corporate takeover.
A Market in Limbo and a Lost Soul
The future ownership of Camden Market remains uncertain. In 2022, the markets were put up for sale with Rothschild and Co managing the process, but no deal was finalised. It is widely believed that Teddy Sagi and LabTech remain the primary landlords.
The consensus from both tourists and Londoners is clear: Camden Market has lost its edge. What was once a fabulously unique and gritty destination is now perceived as a sanitised, profit-driven shadow of its former self, struggling to retain the authentic identity that made it world-famous.
