The Royal Bank of Scotland is engaged in a £3.7bn sell-off of UK property in what may be interpreted as a call on the market. Weekend FT

The bank is poised to sell a £1.1bn portfolio of mainly Hilton hotels to a new investment firm set up by Jeremy Robson, former head of principal finance at the bank.

RBS also completed the sale this week of two office towers in Canary Wharf for £1.45bn.

These two sales follow the £1.1bn sale of 47 Marriott Hotels in April, and suggest the Scottish bank might be seeking to take advantage of high prices in the UK property market.

Sources close to RBS dismissed reports last Sweek that the bank was mulling the £650m sale of Grosvenor House on Park Lane.