£1bn sale for RBS in Canary Wharf

The £1bn sale of one of ­Canary Wharf’s iconic buildings – Citigroup’s European headquarters – has been handled by two agencies, both working for Irish ­acquiror Derek Quinlan.

K Capital Source, working in Ireland, and Powerscourt, working in London, advised on the deal which saw Quinlan Private and PropInvest purchase the building from Royal Bank of Scotland (RBS). Quinlan Private is Quinlan’s firm while Prop­Invest is run by British entrepreneur Glenn Maud.
RBS confirmed that it handled the deal in-house, but said that most of the press work was co-ordinated by the acquiring group.

The £1bn sale is the second-largest property deal ever made in the UK.
Reports have suggested RBS is now negotiating the sale of a smaller Canary Wharf tower.

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