Natwest Group has launched the sale of a distressed commercial property loan portfolio worth more than £550m.

The high street bank has appointed advisers at PWC to explore the sale of the portfolio of loans secured against 25 assets — predominantly shopping centres.

Peter Cosmetatos, chief executive of the Commercial Real Estate Finance Council, said: “I would be very surprised if this were the only NPL [non-performing loan] portfolio brought to market over the coming months.”