Bank of Scotland has pulled out of its investment in Britain’s most expensive block of flats. Daily Telegraph

The bank’s Uberior arm has sold its equity stake in One Hyde Park, the flagship project of property entrepreneurs Nick and Christian Candy.

The stake has been snapped up by other investors in the Knightsbridge development where flats sell for £20m.

One investor, Sheikh Hamad bin Jassim Bin Jabr Al-Thani, is thought to have paid up to £100m for the penthouse suite.

BoS has also offloaded the debt it arranged on the project to German lender Eurohypo. The new facility runs to more than £1bn and has already been syndicated to two other banks.