26 February 2017 | 10 °C

Curvaceous, Tall and Worth £1.09 billion

By Londonist Last edited 118 months ago
Curvaceous, Tall and Worth £1.09 billion
hsbctower.jpg

Britain's largest ever property deal has seen HSBC complete the sale of their headquarters at 8 Canada Square, Canary Wharf for a whopping £1.09 billion to Spanish property firm Metrovacesa.

HSBC will pay £870 million over the period to Metrovacesa in return for 20 years lease of the tower and have options for a further five years. 8 Canada Square is the joint second tallest building in the UK at 199.5 metres and has enough space to accommodate 5000 staff.

It's practically a self contained city with a medical centre, shops, a gym taking up an entire floor and the largest staff canteen in Europe.

HSBC boss, David Hodgkinson, thinks it "is a good opportunity for HSBC to manage its property assets effectively". £1.09 billion makes it worth 3,806,000 bog-standard garden sheds from Argos, 5948 average houses or half a billion pints of beer. Skyscraper versus half a billion pints of beer? That's a difficult one for Londonist to choose.

By James Newman

Last Updated 30 April 2007

matty

assuming ASSUMING the broker of this transaction got 2% *quick calculation* 40 million pounds? wow.