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Report: Madison International in talks to sell London property for £95M

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Report: Madison International in talks to sell London property for £95M

Brockton Everlast Inc. is in discussions to acquire the four-building Devonshire Quarter estate in London from real estate investment firm Madison International Realty LLC for approximately £95 million, Bloomberg News reported, citing people with knowledge of the matter.

The property is reportedly being marketed through CBRE Group Inc. It could become vacant in 2023, and the existing buildings could be demolished to build a 23-story, approximately 430,000-square-foot office tower, the publication noted.

Representatives of Madison, Brockton Everlast and CBRE declined to comment to Bloomberg.

Brockton Everlast is backed by Israel-based Alony Hetz Properties & Investments Ltd. and partners of private equity firm Brockton Capital LLP.