RBS considers HQ leaseback

ROYAL Bank of Scotland is considering a sale and leaseback of its flagship Scottish headquarters at Gogarburn.

Gogarburn, the one-million square foot premises created under Sir Fred Goodwin during his ill-fated tenure as chief executive of the bank, cost 350m to build and was opened in 2005.

Although a strategic review of the group's 4bn own-premises portfolio has begun, Stephen Hester, the new chief executive, has stressed there is no question of moving the 3,200 staff.

Insiders reportedly said a sale and leaseback could be a more efficient use of the bank's resources.

Should it be sold, Gogarburn alone would be expected to raise more than 500m.