RBS to Sell Coutts Strand Building

Stephen Harris

12 October 2007

Royal Bank of Scotland is believed to be about to sell and lease back property with a value of £800 million (around $1,600 million), including the Coutts Bank building on the Strand in London. The bank is understood to have engaged US and global property consultants Cushman & Wakefield to bring a collection of 60 buildings to market. Most are currently occupied by RBS in the UK. The bank has done sale and leaseback deals from its own property portfolio more than once in the past, but this is understood to be the biggest so far. RBS has stated only that it is "constantly reviewing its property requirements."