Sports Direct’s proposed takeover of South London’s iconic Brixton Market has fallen through and is being offered to other parties.
Mike Ashley’s sportswear giant was poised to acquire the Brixton Village and Market Row in a £30 million deal, after a potential takeover was announced in November.
Talks led by Sports Direct to take over the 140 retailers and restaurants followed the acquisition of land nearby land by a company linked to the retailer earlier last year.
According to the Estates Gazette a spokesperson from GCW, a selling agent for London & Associated Properties, said Sports Direct “did not comply with agreed timescales”.
Brixton Market is comprised majoritively of independent retailers and traders, and generates an annual rental income of £1.3 million.