Brixton Market has been around since the 1800s, and has gone through a lot of change since then. And now, it seems that it’s under threat as private equity developers are trying to buy Brixton Village and Market Row.
Currently, the market is partially owned by the London Borough of Lambeth, with the covered areas owned by the joint venture Hondo Enterprises and global investment firm TPG Angelo Gordon. However, this is set to change quite soon if the purchase goes ahead.
Locals are concerned that this £50 million purchase would drive out traders that have been part of the community for decades. Rent is likely to go up, which has already been a problem in this area for some time, potentially pushing independent businesses out in favour of international chains who can afford the fees. Of course, this would be a huge loss to the community, as Brixton Market is famed for being home to a diverse selection of vendors that you can’t find anywhere else.
As a result, local traders have launched an emergency counter-bid, proposing community ownership of the market. This is something that multiple groups had been working on for a while, but the time frame has drastically altered – with bidding now ending on 22nd June.
The organisers of this bid are staging a physical event on Friday 19th July, where Brixton residents and other supporters are invited to show their support for the movement. This is taking place on Station Road, between 6 and 8pm.
Additionally, they’ve launched a petition which now sits at nearly 15,000 signatures, aiming to demonstrate how much force this cause has behind it. They’re hoping that these public displays of support will persuade the current owners that this counter-bid is viable, in a matter of only days before it’s too late.
