The battle for Trillium, the £2bn outsourcing business owned by Land Securities, intensified after the UK's largest property group chose a final list of bidders to take through to the second round of the auction. Financial Times

The list includes: Goldman Sachs; Telereal; Apax; and Charterhouse Capital Partners, the UK private equity house. Goldman Sachs could bid with either or both of Serco and Lend Lease.

UBS, which was mandated by Land Securities to run a sale process for Trillium as well as prepare the business for a possible demerger, is offering a staple-finance package to the interested parties.

The second round is expected to last eight weeks, after which Land Securities will choose a preferred bidder.