Irish developer loses Brixton Market

Irish developer loses Brixton Market
Brixton Market

Leaseholders invoked clause to be allowed to buy

The Irish businessman who “bought” Brixton market in February had the site snatched from under his nose by an American socialite and a DJ.

Successful Irish property investor Aidan Brooks’ Tribeca Holdings was reported to have successfully purchased the indoor market in south London for £37.25m in late February having seen off British billionaire businessman Mike Ashley.

Mr Brooks has been involved in property deals with fellow Irish businessmen John Magnier and JP McManus. His company, Tribeca, recently spent $83m on properties in Soho in New York.

Irish developer loses Brixton Market
Aidan Brooks

Mr Brooks has also extensively invested in retail properties in some of London’s most popular, and expensive, areas.

But last week it was reported that Brixton market’s leaseholder, Market Village sold the leasehold to Hondo Enterprises which is controlled by Taylor McWilliams, a London-based Texan who is part of the DJ collective Housekeeping. Hondo then exercised the leaseholder’s preemption rights to buy  the freehold from London & Associated Properties, which has a portfolio of shopping centres and shops in the UK. Hondo said it would develop plans “to protect and enhance” Brixton Market. The market generates net income of £1.2m a year.

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