Hondo Enterprises, which runs Brixton’s covered markets in a joint venture with US-based finance giant Angelo Gordon, has sold a central London property it had planned to use for a retail and leisure development.
Islington council approved Hondo’s plans to develop an underground car park not long before the coronavirus lockdown made this uneconomic.
Hondo has now sold the 250-space facility to the major developer British Land for £20m.
The company said the car park is close to offices it already owns in Broadgate. It will be used as a delivery hub for the City.
City-centre parking has lost its attraction as a property investment as congestion and ULEZ charges start to add up and companies seek to boost their green credentials.
Plans for the Amsterdam-based AG Hondo Popes Road BV to build a major development including a 20-storey tower in central Brixton are still on hold.
A recent check confirmed that the owner of the proposed site for the development on Pope’s Road and Brixton Station Road remains a Sports Direct company more than a year after the Blog revealed this surprising fact.
Hondo refuses to discuss why it has applied for planning permission for a site it does not own.