National Australia Bank has appointed Donaldsons as transactions manager for 2.5m sq ft (232,250 sq m) of its UK portfolio.
The 18-month contract is worth at least £750,000 to Donaldsons. It covers the estates of two of NAB’s UK retail brands: Clydesdale Bank and Yorkshire Bank. Northern Bank and National Irish Bank are not included.
Donaldsons’ contract involves transactions work previously handled by a mixture of firms, but not property management, which is already contracted out.
NAB was hit this year by a rogue trading scandal, leading to speculation that it would dispose of its UK assets.
Australia’s largest bank had been scouting for opportunities to take its UK market share above 5% after talks with Abbey failed in 2002. Since then it has been rolling out new centres under the Clydesdale and Yorkshire brands.
References: EGi News 14/05/04
