It has been confirmed that Irish businessman Derek Quinlan has paid around €700m to buy a building in London's docklands in what is the second-largest single property deal ever in the UK.
Mr Quinlan is buying the 42-storey Citigroup building in Canary Wharf in a 50-50 joint venture with British private investment company Propinvest, making the deal worth around €1.4 billion in total.
The building is let to Citigroup under a 25-year lease which expires in 2026.
Mr Quinlan, who formerly worked with the Revenue, is executive chairman of investment group Quinlan Private.
In a separate announcement, Quinlan Private and GE Real Estate have agreed to buy a shopping centre in Plovdiv in Bulgaria. The Mall of Plovdiv is currently under construction and should be finished by the end of next year. The two companies had already bought a similar centre in the capital Sofia.
