Abbey National plc, which is owned by Banco Santander Central Hispano SA, is preparing to cash in on soaring demand for commercial property by selling about £1bn of real estate investments, the Times newspaper reported, citing insiders.
It has appointed property consultant CB Richard Ellis to dispose of most of the assets owned by the closed with-profits funds of Scottish Mutual and Scottish Provident, two wholly owned units of Abbey, the newspaper said.
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Source: Freeman News/ Financial Times
