London’s Citigroup Tower Could Be Sold for $1.6 Billion
- Owner AGC said to be working with CBRE on potential sale
- London’s office market has remained buoyant amid global demand
The Citigroup tower, right, in the Canary Wharf business, financial and shopping district of London.
Photographer: Simon Dawson/Bloomberg
The owner of the Canary Wharf skyscraper that’s leased to Citigroup Inc. is considering a sale of the building for more than 1.2 billion pounds ($1.6 billion), as investors continue to line up for London’s trophy buildings, people with knowledge of the plan said.
Broker CBRE Group Inc. is working with AGC Equity Partners Ltd. to advise on the potential disposal of one of the U.K. capital’s largest office towers, the people said. They asked not to be identified as the plan is private. The Middle Eastern-backed private equity group completed a refinancing of the building this summer that has paved the way for the sale, the people said.