Brixton Village and Market Row have been listed as Assets of Community Value, following a suggestion that private equity firms were about to purchase them.
In June, we reported that the Brixton Traders and Community Association's (BTCA) had discovered it only had a few days to make a credible bid on the covered markets (collectively Brixton Market), with unnamed private equity firms champing at the bit to buy up the sites. The concern was that the markets would be taken out of community control, with independents ousted for larger chains in pursuit of higher profit. Almost 40,000 people subsequently signed a 'Buy Back Brixton' petition.
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The application for the Asset of Community Value — which was lodged by the Stour Trust — grants the local community more rights to help take greater control over the sites, including giving them the legal right to purchase, with six months to put together a bid.
Cllr Martin Abrams, the Leader of Lambeth Council, said: "This is a big step forward for the campaign for community ownership which aims to safeguard Brixton's heritage, and I am pleased the council has swiftly taken this important step."
The fight, of course, is far from over: figures in the region of £50m have reportedly been offered for Brixton Market, and some serious investment will be required. As the Lambeth Council video above says: "The hard work starts now."
