Management shift for shopping centre

The Duke of Westminster's property company, Grosvenor, is to take over the management of a struggling shopping centre for Royal Bank of Scotland.

Grosvenor is expected to try to turn around the Friars Square centre in Aylesbury in advance of a sell-off by RBS.

RBS' asset division, West Register, took over the Buckinghamshire centre from Canadian company Brookfield as it moved out of the UK retail market following its acquisition of Multiplex in 2007.

RBS had previously provided the debt for Multiplex to buy Friars Square for 89.5 million.