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Vatican sells property at a loss of more than 100 million euros

property sale

The Vatican loses more than 100 million euros

The Vatican got rid of its sinister luxury property in London, about which an unprecedented criminal case is currently underway, at a great loss.

Publication date: 07/01/2022 at 19:27

The Papal States announced, on Friday, the completion of the sale of the building in London, in the Chelsea area, equivalent to about 215 million euros. The buyer of the property is the American financial investor Bain Capital.

The Vatican reportedly bought the property for around 350 million euros between 2014 and 2018, hoping to make money by increasing its value. Because of the deal, Cardinal was first accused of abuse of office and embezzlement.