Irish property magnate buys top London market for over £37m
Irish property mogul Aidan Brooks has emerged as one of the new buyers of the famous Brixton Market in London.
A consortium he's involved with has forked out £37.3m for the historic venue, seeing off competition from billionaire Mike Ashley, the founder and chief executive of Sports Direct and the current owner of Newcastle United.
Brixton Markets, which includes 140 shops and restaurants, was sold by London & Associated Properties, which put the market up for sale last year.
Mr Ashley had been the frontrunner for the market, but talks between him and London & Associated Properties collapsed last month.
It's not yet known who Mr Brook, from Limerick, has teamed up with to buy the market, which was owned since 2006 by London & Associated Properties. Mr Brooks has previously been involved in deals with racehorse tycoons John Magnier and JP McManus.
"Brixton Markets were in a state of decline when we acquired them," said the firm's chief executive, John Heller. "We're proud today that they are home to arguably the most vibrant restaurant scene in London."
The market generates an annual rent roll of £1.2m.
Mr Brooks is one of the survivors of Ireland's property collapse and the global financial meltdown a decade ago.
His London-based Tribeca Holdings owns a number of shops in the city, including premises at Old Spitalfields Market. He has also acquired properties on the city's prestigious Bond Street and Oxford Street, and done deals in Paris and New York.