Royal Bank of Scotland Plc branches and other office buildings were offered for sale by Telereal Trillium, the unit of William Pears Group of Cos. that owns the assets. The asking price is 550 million pounds ($882 million).
The Hyperion portfolio consists of 55 assets, most of which are leased to RBS, Telereal Trillium said in a statement today. The company hired CBRE Group Inc. (CBG) to sell the buildings, which also include Coutts & Co.’s London office.
“With conditions in the financial and property markets improving, the appetite for this type of high-quality property investment has grown significantly,” Graeme Hunter, Telereal Trillium’s group property director, said in the statement.
Investors are selling real estate as values recover in the wake of the financial crisis. Monthly commercial property total returns rose to 0.9 percent in August, the highest since March 2011, Investment Property Databank Ltd. said Sept. 13.
To contact the reporter on this story: Patrick Gower in London at firstname.lastname@example.org
To contact the editor responsible for this story: Andrew Blackman at email@example.com