Coutts bank have had their London offices put on the market by their billionaire owners the Pears family. The family’s property portfolio is said to be valued at around £475m. The family have several prime locations for sale including the Coutts HQ on the Strand, the offices of Drummonds, the private bank, on Trafalgar Square, and Child & Co on Fleet Street.
CBRE are the agent who have been nominated to market the properties on behalf of the family. With dwindling supply in prime locations in London, there is set to be significant interest in the portfolio. The fact that capital values have fallen so heavily over the last 2 years means there is extra incentive to snap up prime office schemes.