Home Commercial Property Brixton Market sold for £37.3m to Irish property tycoon

Brixton Market sold for £37.3m to Irish property tycoon

by Sponsored Content
23rd Feb 18 11:26 am

Shares in London & Associated Properties jumped following the sale

Brixton’s famous covered markets have been sold to an “undisclosed private group of companies” for £37.3m less than a month after Sports Direct missed the deal.

According to The Times, one of the key members of this group is millionaire Irish investor Aidan Brooks. He is understood to be worth around €500m (£358.74m) and owns retail properties across Knightsbridge and Bond Street.

The markets were put up for sale in October for a whopping £30m price tag by owners London & Associated Properties (LAP), who bought it in 2006. In 2007, their plan to demolish part of the market and build ten stories of flats was blocked by locals leading to the market being Grade II-listed in 2010.

The shares in LAP jumped 26 per cent following the sale.

The site consists of around 140 independent shops and restaurants, which generate rental income of £1.2m per year.

Leave a Comment