- Vivian Hendriksz |
London - Billionaire Mike Ashley, owner of Sports Direct, is reportedly keen on expanding his portfolio once more as he is said to have set his sights on acquiring Brixton Village and Market Row, a shopping destination in south London.
Ashley is set to make a 30 million pound offer for the vibrant marketplace, which is home to 140 retailers and restaurants, according to sources at the Evening Standard. The acquisition is likely to occur through a Sports Direct vehicle, rather than through the billionaire himself, as he is said to be busy trying to sell Newcastle United, added the report. Both Sports Direct and Mike Ashley have yet to comment on the report.
News concerning a potential takeover comes four months after a company connected to Sports Direct purchased land in the vicinity, between two Brixton railway lines. Ashley’s potential takeover of Brixton Village and Market Row could see the entrepreneur following in the footsteps of Isreali billionaire Teddy Sagi, who purchased large areas of Camden with the overall aim of bringing London’s leading marketplaces together under a single ownership, added a source.
Brixton Market properties currently generate a rental income of approximately 1.3 million pounds per year and are held by London & Associated Properties. If the shopping destination is indeed acquired by Ashley, may give Sports Direct leeway to open stores in the area as well.