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Brockton Everlast signs £95M deal to acquire London asset

Real estate company Brockton Everlast agreed to purchase the four office buildings comprising the Devonshire Quarter in London from Madison International Realty LLC for £95 million, Property Week reported.

The buildings at 123, 115, 117-119 and 120 Houndsditch encompass 122,000 square feet and occupy a 0.7-acre site that has potential to be developed into a larger mixed-used development after 2023, the March 14 report added.

Twenty tenants are housed in the property, which is leased at an average passing rent of £40 per square foot, according to the publication.

In December 2018, the two parties were reported to be in discussions for the sale of the property.