Sports Direct is planning to purchase Brixton Market, a vibrant retail hub in south London, for about £30 million, the Evening Standard reported Nov. 28.
The report said the athletic goods retailer is understood "to be the front-runner" in the deal, which is being sold by property agents GCW and Lewis & Partners on behalf of London & Associated Properties Plc.
Brixton Market includes Brixton Village and Market Row, which are reportedly home to 140 retailers and restaurants, the Evening Standard said, citing real estate sources. Properties in the area reportedly generate about £1.3 million annually.
The development comes four months after it emerged that a company linked to Sports Direct had acquired land near the area, between two Brixton railway lines, according to the report.
The news outlet added that the takeover will likely be through a Sports Direct vehicle rather than CEO Mike Ashley personally.
The Evening Standard said Sports Direct and the real estate agents involved declined to comment.