TPG Angelo Gordon and Hondo Enterprises, who own Brixton Market after purchasing it for £37 million in 2018, and who wanted to erect a 20-storey office tower over Electric Avenue but were denied planning after a spirited local community campaign, put the market back on sale in September 2024.
Now amidst the threat of private equity purchasing Brixton Market, a campaign has been launched by youth charity The Advocacy Academy and the Brixton Traders & Community Association to raise £15 million, to go towards the asking price of £50 million, to buy back the market for the community.
On its crowdfunding page, The Advocacy Academy says: “Brixton Market is more than a food hall or property asset. It is the heart of Brixton’s culture, economy and community life. It has been shaped by generations of traders, families, migrants, young people and independent businesses. If the market is sold to investors focused on profit, we risk rent hikes, evictions and the permanent loss of the people and culture that make Brixton Market what it is.”
According to , The Advocacy Academy had been working with traders on plans to secure leases and contract renewals in the short term while working towards the long-term goal of taking control of the site for two years, and had formalised its interest in the site at the start of June. Since then, it’s become apparent that other bidders are now interested in the market and that all interested parties had until Mon 22nd June to show that they have a credible amount funds to move forward.
At the time of writing, donations to the crowdfunder have gone over £529,000 and there have been over 35,600 signatures on a Buy Back Brixton petition. The campaign also has political backing, with Helen Hayes, the Labour MP for Dulwich and West Norwood, and Green leader of Lambeth Council, Cllr Martin Abrams, giving it their support, so it remains to be seen if enough money can be raised via donations in time to show that the community buy-out is viable.
