Bilfinger GVA has been appointed to manage Royal Bank of Scotland’s entire £6.2bn property portfolio.
It has usurped DTZ as the bank’s agent, taking on a contract thought to be worth more than £7m pa.
The portfolio includes £2.9bn of freehold buildings, £1.7bn of short leasehold properties, £1.9bn of operating lease buildings and £286m of long-leasehold assets.
The company will also be responsible for estates management and valuations services for the portfolio.
The appointment is one of the biggest corporate real estate mandates ever tendered.
