An agent has issued a high court claim to recover commission it says it is owed on the £105m sale of Old Spitalfields Market, E1.
Andrew Barclay’s Hillgate Property Investments claims the US company Ashkenazy Acquisition Corporation has breached a 2012 contract and refused to pay its 1% fee on the 2013 sale.
It is claimed that Hillgate is entitled to a £1.1m fee on the transaction, under the contract it entered into with Ashkenazy to introduce it to property investment opportunities in London, particularly prime retail assets.
It is alleged that Hillgate introduced Ashkenazy to the opportunity to buy Old Spitalfields Market in November 2012 and assisted on the purchase.
Ashkenazy, which is -defending the claim, maintains that neither Hillgate nor -Barclay are entitled to any payment.
In its defence documents, Ashkenazy says the company did not enter into a contract and that Hillgate did not introduce it to the property, which it adds was acquired by OSM Holdings, not Ashkenazy Acquisition Corporation.
It says that no services were performed by either Barclay or Hillgate that entitle them to any payment.
