Vatican to Lose £100m of Peter’s Pence Funds in London Property Sale

The Vatican will incur a loss of £100m in donations intended for the needy when it completes the pending sale of a luxurious London office building now at the centre of an international criminal investigation.

The Vatican is in the final stages of selling 60 Sloane Avenue, a building in the Knightsbridge district of London, for about £200m to private equity group Bain Capital, according to several people familiar with the process. Bain Capital and Savills, which is managing the sale, both declined to comment.

Senior Holy See officials invested a total of €350m of donations in the London building between 2014 and 2018, the Vatican has said, meaning that the sale is expected to confirm a loss of about £100m for the Catholic Church.

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