National Australia Bank has asked banks and property advisers to put forward proposals for its £5.3bn UK property loan book.
It may sell the loans, depending on market conditions. The loan book is thought to contain many small, not necessarily distressed, but ‘non-core’ loans.
Shareholders want NAB to quit the UK. It stopped UK property lending nearly a year ago, when it said it would keep the loans until maturity. However, there is now more liquidity in the UK, making disposals viable.
NAB owns Yorkshire and Clydesdale banks. The latter refinanced a £107m securitised loan backed by a portfolio of 14 Queens Moat House hotels, owned by Goldman Sachs’ Whitehall fund, in 2011.