Starwood plans sale of London tower project on Brexit

London: Starwood Capital Group LLC is in talks to sell its interest in a planned London tower over concerns that Brexit will hurt demand for office space, three people familiar with the plan said. Starwood, based in Greenwich, Connecticut, plans to dispose of its stake in the One Braham development in East London to venture partner Aldgate Developments for more than £60 million ($75 million), the people said, asking not to be identified because the plan is private. Aldgate will probably seek a new partner before building the 18-storey building, which will have space for about 3,650 workers, they said.

Spokesmen for Starwood and Aldgate Developments declined to comment.