Posts tagged 'Derek Quinlan'

UK’s Citigroup tower on market

One of the UK’s tallest skyscrapers will next week hit the market after the decision to sell the Citigroup Centre in Canary Wharf for more than £1bn, reports the FT. Jones Lang LaSalle, the property agent, has been instructed to sell the 45-storey Citigroup tower in Canary Wharf for more than £1bn by the owners, private investors Glenn Maud and Derek Quinlan. The money will be used to repay debt that helped buy the building at the peak of the property boom. The 1.2m sq ft office tower is the third-tallest building in the UK and is rented by Citigroup. It was one of the UK’s biggest property deals when bought by Maud and Quinlan from Royal Bank of Scotland for £1bn in 2007. Months later the property market crashed, and the owners have sought an exit since last summer.

Quinlan team pays £1bn for Citigroup HQ

The European headquarters of Citigroup at Canary Wharf have been sold for £1bn to a consortium led by Derek Quinlan, the Irish financier. It is understood that RBS, which bought the building four years ago, has sold it to a joint venture of Mr Quinlan and PropInvest, a private company run by Glenn Maud. The sale of the 1.2m sq ft Citigroup skyscraper at 25 Canada Square is the second largest single-property transaction ever seen in the UK, behind the sale of the HSBC tower earlier this year.