Credit Suisse to sell London offices

Credit Suisse has kicked off a sale of its London property portfolio to raise as much as £500m. The investment bank has asked property firm CB Richard Ellis to start marketing the smaller of its two buildings in Canary Wharf, 20 Columbus Court, and it is believed that its tower at 1 Cabot Square may also be brought to the market by the end of the year. The sale of the buildings come despite values dropping by almost half since the peak in the summer of 2007.