The Vatican will lose £100m intended for the needy when it completes the sale of 60 Sloane Avenue, Sw3.
The Vatican is in the final stages of selling the Knightsbridge office building to Bain Capital for £200m, according to those close to the deal.
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 will equate to a loss of about £100m for the Catholic Church.
Vatican prosecutors say the money invested in the building and other investments was derived from Peter’s Pence, an annual donation given by Catholics around the world, which, according to the Vatican, is intended “for the many different needs of the universal church and for the relief of those most in need”.
