The Vatican is expected to suffer a loss of £100 million from its botched property investment in London.
A deal to sell off its share of 60 Sloane Avenue, a building in Knightsbridge, to Bain Capital, a private equity group, is in its concluding stages, according to media reports.
Vatican City invested 350 million euros in a 45 per cent share of the building between 2014 and 2018 but will let it go for just £200 million.
The shortfall leaves the Vatican out of pocket by about £100 million, the majority of which was derived from “Peter’s Pence”, which funds the papal charities.
