Israeli families in talks for potential London office tower site

London

A NEW real estate company backed by some of Israel's richest families is in talks to buy a City of London site that could be the location of a new office tower, people familiar with the matter said.

In a sign of the appetite for development risk in London's office market, Brockton Everlast Inc. is in exclusive talks to buy the Devonshire Quarter from Madison International Realty, the people said, asking not to be named because the negotiations are private. The four-building estate is being sold for about £95 million (S$165 million) through broker CBRE Group, they said.