A further example of the management of the banks’ property debt is Royal Bank of Scotland expected to take control of the 28,427 sq.metres Friars Square Shopping Centre in Aylesbury. It would take over from Brookfield and the likelihood is that Grosvenor would be appointed to manage the mall and advise on its future development. Aylesbury is also in line for a major industrial development by Arla Foods. The company plans to spend £250 million on the world’s largest dairy in a scheme on an adjacent site around 92,900 sq.metres of industrial warehousing in two sheds. In addition there will be five units for small and medium sized companies.
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