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October 22, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

RBS selling Stamford building

Photo by Hearst Connecticut Media.

Having laid off some 700 workers from its Stamford operations, the Royal Bank of Scotland (RBS) has decided to put the building itself up for sale. The company said it would continue operating in the building.

“As we have reduced the size of our global footprint, it now makes economic sense for RBS to sell the building at 600 Washington Blvd. and lease back the office space that we require,” according to a statement the bank issued. “Our NatWest Markets U.S. sales and trading operations in Stamford remain a core part of our business, providing our customers with access to the U.S. dollar markets across currencies, rates and financing.”

The bank expects to conclude the sale later this year. An asking price was not announced; however, the building was appraised last year for $150.6 million, according to the Vision Government Solutions Inc. database.