Sports Direct’s Brixton Market takeover falls through
Reports emerged in November that Sports Direct was looking to purchase Brixton Market, a south London shopping destination, but the deal has reportedly fallen through.
The British retail company was understood to have made a £30 million offer for Brixton Village and Market Row, which are home to 140 retailers and restaurants. The offer was made through an investment vehicle rather than by chief executive Mike Ashley personally.
However, sources told property magazine EG that “the previous party did not comply with the agreed timescales,” and that the market is now under offer to another unnamed party.
Sports Direct’s plans for the London retail scheme remained unclear, but the company has been recently opening several multi-fascia stores across the UK, bringing together its brands including Sports Direct, Flannels, USC and Everlast Fitness Club in a single location.
The company also owns stakes in luxury brand Agent Provocateur, Debenhams and French Connection.
Brixton Market is mostly home to independent retailers and traders, and generates an annual rental income of £1.3 million.
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