Spanish property company Metrovacesa is to pay £1.09bn for the London headquarters of HSBC in the UK's biggest-ever single-property deal. Financial Times. The Times. The Independent. Daily Telegraph. The Guardian. BBC
The purchase price for the 1.1m sq ft 8 Canada Square in Canary Wharf reflects a yield of 3.8% and is thought to be the highest price paid for a big UK office block.
HSBC is considering similar sale and leasebacks for its offices in Sheffield and Birmingham. A sale and leaseback of HSBC’s Park Street offices in Southwark, covering 100,000 sq ft, is also on the cards, said Richard Spence, head of the bank’s special operations.