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US investor Hondo Enterprises has finally been revealed as the buyer of Brixton Markets, after Market Villages flipped ownership of the leasehold.
London & Associated Properties sold the leasehold of the grade II listed site – which is comprised of 140 commercial units – for £37.25 million to tenant Market Villages on 23rd March, after the firm exercised its pre-emption rights. Hondo Enterprises then bought both the lease and the freehold – which was still owned by LAP.
In a statement released about the acquisition, Hondo said: “The market is at the heart of Brixton’s community and under our stewardship its unique character will be secured for the long term… We look forward to beginning a conversation with traders, the local community, and Lambeth council in the coming weeks and months as we develop our plans to protect and enhance the market.”
This news was brought to you by Morgan Pryce, a specialist tenant acquisition agent with offices in Oxford Circus and the City. Morgan Pryce specialises in search, negotiation and project management and works exclusively for tenants.