(CNN) President Donald Trump blamed his decision not to visit the UK on a "bad deal" cut by the Obama administration over the relocation of the US embassy in London.

"Reason I canceled my trip to London is that I am not a big fan of the Obama Administration having sold perhaps the best located and finest embassy in London for "peanuts," only to build a new one in an off location for 1.2 billion dollars. Bad deal. Wanted me to cut ribbon-NO!" Trump tweeted.

But Trump was wrong to pin all of the blame for the move on former President Barack Obama.

It is true that the final sale of the imposing Chancery Building in central London and the contract to build a new structure south of the River Thames were signed off under the Obama administration.

But the original decision to move the embassy from its prime location in the plush Mayfair district to a regeneration site in Battersea was made by the administration of a Republican President, George W. Bush.

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