Vatican Announces the Sale of the London Building for 186 Million Pounds which is at the Centre of the Trial
In a statement from the Administration of the Patrimony of the Apostolic See, the conclusion of the operation is announced
Vatican News Reports:
In recent days, the Administration of the Patrimony of the Apostolic See has completed the sale to Bain Capital of the building at 60 Sloane Avenue in London, with a total proceeds of 186 million pounds. The Secretariat for the Economy followed the entire procedure in its various phases.
Vatican News Reports:
In recent days, the Administration of the Patrimony of the Apostolic See has completed the sale to Bain Capital of the building at 60 Sloane Avenue in London, with a total proceeds of 186 million pounds. The Secretariat for the Economy followed the entire procedure in its various phases.
The losses found compared to the amount spent on the purchase of the property were transferred to the reserve of the Secretariat of State, without in any way in this circumstance the Pole of St. Peter was touched, and with it the donations of the faithful.
To ensure the transparency and independence of the evaluation process, the Holy See availed itself of the assistance of the real estate broker Savills, selected at the end of a tender procedure launched in January 2021 under the supervision of real estate advisors.
In September 2021, APSA received a first round of 16 offers, subject to due diligence in the following months, followed by a second round of 3 offers, also subject to appropriate investigations. The operation was completed in recent months with the choice of the buyer and, finally, with the deed of sale.
To ensure the transparency and independence of the evaluation process, the Holy See availed itself of the assistance of the real estate broker Savills, selected at the end of a tender procedure launched in January 2021 under the supervision of real estate advisors.
In September 2021, APSA received a first round of 16 offers, subject to due diligence in the following months, followed by a second round of 3 offers, also subject to appropriate investigations. The operation was completed in recent months with the choice of the buyer and, finally, with the deed of sale.
Source: https://www.vaticannews.va/it/vaticano/news/2022-07/apsa-palazzo-londra-santa-sede.html
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