Rome Newsroom, Apr 20, 2021 / 07:00 am America/Denver (CNA).
The Vatican is thinking about selling the London property at the center of a financial scandal at the Secretariat of State, which lost an estimated $100 million in the building’s purchase.
Bloomberg reported this week that the Vatican is considering selling the former car showroom of the Harrods department store, located at 60 Sloane Avenue in the ritzy Chelsea neighborhood of London.
The Secretariat of State began to purchase the building seven years ago as an investment property intended for development into luxury apartments.
According to Bloomberg, sources in the Vatican said that the London property is valued at about $369.1 million. The Vatican confirmed to Bloomberg that, while there is no rush to decide, selling is one of the options being considered.
The circumstances surrounding the property’s purchase have come under investigation, as the Vatican alleges that businessman Gianluigi Torzi, brought in by the Vatican to broker the final part of the building’s sale, was part of a conspiracy to defraud the secretariat of millions of euros. Torzi denies the claim.