Irish property tycoon wins battle to buy Brixton Market

South London’s famous Brixton Market was on Thursday sold for £37.3 million after a tense battle which saw Sports Direct tycoon Mike Ashley miss out.

London & Associated Properties said it has offloaded Brixton Village and Market Row to a private group of real-estate companies.

The site is known for serving the Afro-Caribbean communities who migrated to Brixton in the Fifties. Today it comprises 140 shops and restaurants and generates rental income of £1.2 million per year.

The new consortium of owners includes millionaire Irish investor Aidan Brooks, according to The Times.

The Limerick-born entrepreneur’s Mayfair-based firm Tribeca Holdings already owns a number of shops, including in Knightsbridge and Old Spitalfields market. Brooks could not be reached for comment.

It comes a month after talks between Ashley-led Sports Direct and London & Associated collapsed. A vehicle linked to the retailer was understood to be front-runner, months after a firm linked to Sports Direct bought land nearby.

Sources believed Ashley’s strategy could echo that of billionaire Teddy Sagi, who snapped up swathes of Camden to bring its markets under one ownership. He helped stallholders to launch online sales.

London & Associated Properties has owned the site since 2006. Boss John Heller said: “Brixton Markets were in a state of decline when we acquired them. We are proud that today they are home to arguably the most vibrant restaurant scene in London.”

Agents GCW and Lewis & Partners advised.