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14/04/2009
HSBC in Canary Wharf sale plan |
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HSBC has confirmed that it is considering the sale of its headquarters building in London as part of a major commercial property sale.
The bank - which is also looking to offload offices in Paris and New York in a bid to raise £2.7 billion in capital - is considering the sale of the commercial property, situated at Canary Wharf.
HSBC had repurchased the building from Spanish property firm Metrovacesa last year for £838 million after selling it to them on a sale-and-leaseback deal in 2007.
Those keen on becoming involved with commercial property transactions in London may wish to take legal advice on the processes involved.
The value of commercial property has dipped in recent months as the lack of credit and the onset of recession has pushed prices down.
Signs have emerged that the market may have bottomed out, but investors should not get carried away with thoughts of any swift recovery, the Financial Times has suggested.
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