Property Week reports that The Royal Bank of Scotland is looking to sell up to 250 properties across the UK.
The portfolio is expected to include freehold and leasehold properties from both high street retail and offices throughout the UK. It will be the second group of properties to be sold and leased back by the bank. It follows the £100m sale last year of 300 properties to Ackerman Group.
The portfolio, which has yet to officially come to the market, is expected to sell for up to £75m and offer 20-year leases. The exact properties to be included in the portfolio have not yet been finalised and is still awaiting board approval.
Ernst & Young, which advised RBS on last year's deal with Ackerman, is said to be advising on this second group of properties.
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Sunday, June 04, 2006
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