Thu, 30 Nov 2017 | COMMERCIAL PROPERTY
Brixton’s famous market, home to 140 restaurants and retailers, could be snapped up by Sports Direct in a surprise £30 million deal.
The Sports Direct retail empire, headed up by infamous chief executive Mike Ashley, is said to be a “front-runner” to buy Brixton Village and Market Row in South London.
Ashley is unlikely to make the deal personally, however, with any purchase likely to be made through a Sports Direct subsidiary. The founder of the sports firm is still trying to sell his controlling stake in Premier League football club Newcastle United.
Sports Direct has declined to make any comment about the deal, reports the Evening Standard.
The talks over Brixton Market’s future have come a few months after it emerged that a company related to Sports Direct had acquired land located near the market itself, occupying a gap between two Brixton train lines.
It has been reported that the properties that make up the Brixton Market generate a potential rental income of £1.3 million a year, with Sports Direct also possibly eyeing opening up its own stores there in the long-term.
Any move to buy the market could echo the recent strategy of Teddy Sagi, an Israeli millionaire and founder of gambling software firm Playtech, who bought large areas of Camden to bring its markets under one owner. He has also helped stall operators launch online stores.
Brixton Market is currently being sold by property agents GCW and Lewis & Partners on behalf of London & Associated properties.
There are also home-grown attempts to buy the market and bring it under public ownership, including My Tribe Village which plans to crowdfund the acquisition.
The business has been operated by the current vendors for over 25 years and this is the first time the site has been advertised on the open market for over 100 years. The business has built up an enviable reputation throughout the area for quality an...
FREEHOLD
A well-established business with a renowned reputation amongst local residents. This is a superb opportunity to take on a high turnover local business in an area teeming with customers. There has been a similar type of business at these premises sinc...
LEASEHOLD
Well-established musical instrument retail business in Barrow-in-Furness, Cumbria. The business was established in 1977 and has been in our client`s careful ownership for the past 14 years. Only now is the business being offered to the market due to...
FREEHOLD
|
15
|
|
Aug
|
Payroll and HR companies acquired by software group | BUSINESS SALE
IRIS Software Group has finalised the agreement of intent to...
|
14
|
|
Aug
|
NG Bailey’s acquisition of Freedom boosts its turnover by 16 per cent | BUSINESS SALE
Engineering and services group NG Bailey’s strategic a...
|
13
|
|
Aug
|
Forensic science equipment supplier completes MBO | MBO/MBI
A private equity firm has backed the management buyout of a ...
Sign up to receive our acquisition alert emails to get your FREE guide
|
15
|
|
Aug
|
Payroll and HR companies acquired by software group | BUSINESS SALE
IRIS Software Group has finalised the agreement of intent to...
|
14
|
|
Aug
|
NG Bailey’s acquisition of Freedom boosts its turnover by 16 per cent | BUSINESS SALE
Engineering and services group NG Bailey’s strategic a...
|
13
|
|
Aug
|
Forensic science equipment supplier completes MBO | MBO/MBI
A private equity firm has backed the management buyout of a ...
Business Sale Report is your complete solution to finding great acquisition opportunities.
Join today to receive:
All this and much more, including the latest M&A news and exclusive resources