London bank bought for £27.5m by European investor

Sian Bradley's picture
by Sian Bradley
Lender ADIB has a branch at the One Hyde Park development

A European investor has bought the London branch of Abu Dhabi Islamic Bank  for a cool £27.5m.

The London branch is based in prestigious business district One Hyde Park, which was developed by the property tycoon Candy Brothers and is worth £1 billion.

The name of the buyer has not been disclosed, but it is understood that the end sale was a £10 million rise on how much it sold for six years ago.

The buyer also paid in cash to a private Turkish vendor. The ADIB branch is located at 100 Knightsbridge, next door to Rolex’s store and McLaren’s supercar showroom.

Jonathan O’Regan, of selling agent Savills, commented on the sale: “The price reflects the premium nature of the asset with One Hyde Park being London’s most recognised luxury address.”