ABN AMRO announced Wednesday it has completed the sale and leaseback of its London headquarters located at 250 Bishopsgate.
The bank has sold the building to a special purpose vehicle created by Evans Randall, a privately held investment bank, for GBP 175 million. ABN AMRO has committed to remain as a tenant under a new 30-year lease.
In a news release, ABN AMRO said the transaction is part of a regular review of its global property portfolio of more than 3,000 buildings, which the bank evaluates to maximize efficiency.
250 Bishopsgate is a landmark property designed for ABN AMRO by EPR Architects and constructed in 1998.
Cushman & Wakefield Healey & Baker advised ABN AMRO in the transaction.