Mike Ashley swoops on Hertfordshire retail park in cut-price deal

Mike Ashley Poland Street

Sports Direct tycoon Mike Ashley is poised to add a retail park in Hertfordshire to his growing list of acquisitions.

The billionaire, who has already swooped on ailing retailers including House of Fraser, Evans Cycles, Sofa.com and Jack Wills over the past two years, has tabled a bid for Brookfield Shopping Park.

According to Estates Gazette, Ashley has bid around £28m for the 90,000 sq ft destination in Cheshunt, which has an asking price of around £45m. His bid is also just a third of what current owners JP Morgan Asset Management paid for the retail park four years ago.

JP Morgan has been urged to sell up by its lender RBS, which financed the original acquisition with a £62.2m loan.

Subscription content

Please sign in now if you have a subscription

Retail Week

Register to continue reading

Retail-Week.com provides premium, in-depth intelligence that helps retailers judge risks, spot opportunities and identify what they need to do to win in the digital economy.

Register today for a taste of our high-quality intelligence and enjoy:

  • 3 free articles a month on Retail-Week.com
  • Detailed analysis of current trends and events 
  • Exclusive newsletters
  • In-depth reports, videos, interviews and much more

Discover Retail Week register now

Please note, if you have recently purchased a subscription, it may take a few minutes before your account is updated.