Sports Direct's £30m Brixton Market takeover collapses

Sports Direct’s £30m Brixton Market takeover collapses

26th January 2018

Sports Direct’s proposed takeover of South London’s iconic Brixton Market has fallen through and is being offered to other parties.

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Sports Direct poised for £30m takeover of Brixton Market

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.

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Property General Retail

2 Comments. Leave new

ProofReader 9 years ago

Property price of £30 million and an income of £1.3 billion? You might want to check your figures…

Reply

Nikola Barnett-Henry 8 years ago

Its a rental income of 1.3 million

Reply

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Property General Retail

26th January 2018

Ben Stevens

Sports Direct’s proposed takeover of South London’s iconic Brixton Market has fallen through and is being offered to other parties.

READ MORE:

Sports Direct poised for £30m takeover of Brixton Market

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.

Click here to sign up to Retail Gazette‘s free daily email newsletter

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