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Clare Hudson
Clare Hudson
  • 1 Minute Read
  • 18th April 2011

Citigroup Tower For Sale

Search-Office-Space-Citigroup-Tower-150x150Britain’s third largest building, Citigroup Tower, Canary Wharf is now up for sale for over £1bn.

Citigroup Tower (25 & 33 Canada Square) stands alongside HSBC Tower, designed by Cesar Pelli & Associates and was completed in 2001. (1)

The property is currently owned by entrepreneur, Glenn Maud and real estate investment and development businessman Derek Quinlan.

Royal Bank of Scotland sold Citigroup Tower to the pair, who are now in debt, just before the property market boom in 2007, when real estate values dropped by as much as 44%,

It has been suggesting that Nama (National Asset Management Agency) is forcing Quinlan to sell the property. (2)