Royal Bank of Scotland is in talks to offload 250 Bishopsgate, EC2, to the world’s largest derivatives broker, Icap.
RBS has been reviewing its property portfolio over recent months as it looks to cut 3,500 jobs and slash costs.
The review had been thought to be confined to smaller sites, such as Great Tower Street, EC3, and Devonshire Square, EC2.
However, it is understood that the bank is now considering vacating the 280,000 sq ft it occupies at 250 Bishopsgate to make way for Icap.
A spokesman for RBS said: “We continuously review our London property portfolio in line with business requirements in order to maintain an optimal property operating model. We are currently reviewing a number of smaller buildings with forthcoming lease expiries to decide whether they fit into our longer-term plans. Beyond that we have taken no firm decisions regarding our central London property holdings.”
Bishopsgate is one of three options being considered by Icap, which launched its search for a new HQ through Drivers Jonas Deloitte last year.
Its lease on the 175,000 sq ft it occupies at British Land’s and Blackstone’s 1-2 Broadgate, EC2, is due to expire in December 2016.
Alongside Bishopsgate, Icap is considering a refurbishment of its current office or taking a prelet at Exemplar’s 300,000 sq ft Fruit & Wool Exchange, E1.
DJD and Icap declined to comment.
Jones Lang LaSalle and CBRE are agents on Fruit & Wool; DTZ advises RBS.
jack.sidders@estatesgazette.com
