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Sala Stampa

Press Release of the Administration of the Patrimony of the Apostolic See, 01.07.2022

In recent days, the Administration of the Patrimony of the Apostolic See has completed the sale to Bain Capital of the building at 60 Sloane Avenue in London, with a total proceeds of GBP 186 million. The Secretariat for the Economy followed the entire procedure in its various stages.

The losses incurred with respect to the amount spent on the purchase of the building were transferred to the reserve of the Secretariat of State, without in any way affecting Peter's Pence, and with it the donations of the faithful.

In order to ensure the transparency and independence of the valuation process, the Holy See sought the assistance of the real estate broker Savills, selected at the end of a tender procedure launched in January 2021 under the supervision of real estate advisors.

In September 2021, APSA received a first round of sixteen offers, subject to due diligence in the following months, followed by a second round of three offers, also subject to due diligence. The transaction was finalised in recent months with the choice of buyer and, finally, the deed of sale.