Irish investor Aidan Brooks has emerged triumphant over Sports Direct tycoon Mike Ashley to buy South London’s famous Brixton Market for £37.3M.

On Thursday, London & Associated Properties announced it had sold Brixton Village and Market to a private group of real estate companies which includes the Limerick-born businessman, according to The Times.

The site is famous for serving the Afro-Caribbean communities who settled in Brixton in the 1950s. It is now home to dozens of highly regarded independent restaurants and has a rent roll of £1.2M generated by 140 shops and eateries.

Brooks’ Mayfair-based firm, Tribeca Holdings, already owns Old Spitalfields Market and big retail holdings in Knightsbridge and on Oxford Street.

The deal comes a month after talks between Ashley’s Sports Direct and London & Associated broke down. After land was purchased close to the market by a firm linked to the retailer, it was thought a vehicle connected to Sports Direct was in the lead for the sale.

London & Associated Properties boss John Heller: “Brixton Markets were in a state of decline when we acquired them. We are proud that today they are home to arguably the most vibrant restaurant scene in London.” The company owned the market for 12 years.

Agents GCW and Lewis & Partners advised the sale.