Land Securities is in talks to develop a prime tower block in the City of London.

The REIT is understood to be close to agreeing a deal to develop 21 Moorfields, above Moorgate underground station, which was the site of Lazard’s former headquarters.

The site, which was previously owned by Moises and Mendi Gertner and was put into administration in 2010, was previously targeted for a 13-storey building designed by Architects Foster + Partners.

Land Securities is also understood to be keen to develop a tower on the site, but will design a different scheme.

Construction cannot begin on the site until at least 2016 when Crossrail’s work on the station will be completed.