Brixton Market, London
Acquisition of a unique investment opportunity
Acting for Hondo Enterprises & Angelo, Gordon & Co, Bruce Gillingham Pollard have acquired Brixton Market and Market Row for £37,250,000. Additionally Bruce Gillingham Pollard acted on the acquisition of the overriding leasehold interest for a confidential sum.
Bruce Gillingham Pollard were able to draw on their extensive occupier relationships and contacts to engineer a purchase structure that was blind to the open market.
Woody Bruce of Bruce Gillingham Pollard commented: "The assets, in our opinion, were heavily under rented and we held detailed conversations with both existing and potential occupiers in order to underwrite our reversionary appraisals. Our unrivalled track record in both the Central London leisure market and our wider market strength in the investment market ensured we were able to maximise value though the transaction and we are now implementing the asset management strategy through the hold.”
The vendor received a high number of bids through the open market campaign but Bruce Gillingham Pollard were able to provide certainty and deliverability through our purchase strategy, underpinned by occupier knowledge.