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Canary Wharf office tower up for sale
FIFTEEN Westferry Circus, the Canary Wharf offices leased by Morgan Stanley, has been put up for sale after it fell into receivership earlier this year. Savills has been instructed to sell the offices for more than £129.5m – a net initial yield of six per cent. The property went into receivership after a default on a £130m loan in April this year. The building was owned by Vico Capital, founded by Irish couple Brian and Patricia O’Donnell, who sought bankruptcy earlier this year. after building up a vast property empire using cheap credit offered by Irish banks before the credit crisis.