More than a dozen investors are lining up bids for Abbey National’s £1.35bn Scottish Mutual and Scottish Provident property portfolio.
Bank of Scotland, Lehman Brothers, Nomura, Henderson, Protego, Royal Bank of Scotland, Goldman Sachs’ Whitehall Fund, Prestbury, Standard Life, Legal & General, REIT Asset Management, GE Capital, Morley and Scottish Widows are all interested.
The properties include the 134,000 sq ft (12,450 sq m) 123 St Vincent Street office building in Glasgow, the former Scottish Provident HQ at St Andrew’s Square in Edinburgh, the 250,000 sq ft (23,000 sq m) Hedge End retail park, Southampton, and the 32,000 sq ft (3,000 sq m) 62-64 Cornhill, EC3.
● First-round bids on the 300-store Boots sale-and-leaseback were also called this week, with REIT Asset Management, Golfrate, London & Regional and Kirkmore Securities all making submissions.
References: EGi News 03/05/05
