Rbs Braced for Pounds 60m Hit On Unwanted Offices

Evening Standard - London › January 26, 2004

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Summary

ROYAL Bank of Scotland is set to take a Pounds 60 million hit in its bid to sell a central London office complex to a residential developer.

According to Property Week the bank paid private investor Zak Gertler about Pounds 90 million last month to buy the freehold of its 180,000 square feet of offices in two buildings on Pentonville Road in King's Cross in order to extricate itself from a 30-year lease. This is double the amount previously reported.

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Extract

Rbs Braced for Pounds 60m Hit On Unwanted Offices

RBS is trying to sell the premises to a housing tru...

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