Credit Suisse puts London property on market - report

Credit Suisse has instructed CB Richard Ellis to begin marketing one of the investment bank's two office properties in Canary Wharf, London, according to the Financial Times.

The paper said a sale-and-leaseback transaction involving 20 Columbus Courtyard could raise as much as 500 mln (EUR 575 mln), depending on the terms of the final agreement.

Credit Suisse is in a relatively good financial position compared with many other major banks, but it plans to sell the office building as part of the strategy to refocus on its core banking activities. The Financial Times said there were indications Credit Suisse would also put its largest Canary Wharf asset, 1 Cabot Square, on the market before the end of the year.