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Sunday, 15 November 2009

HSBC sells Canary Wharf Tower HQ

For those people in the Canary Wharf area of the Docklands in London the HSBC tower is a part of the skyline in London along with the Citigroup tower and the main tower itself.

Well, this week HSBC sold their London HQ for a massive £772.5 million. The tower has been sold to the National Pension Service for Korea, although HSBC and it's staff will remain in the building for the remaining 17.5 years of its lease paying £46million per year in rent.

HSBC sold the 42-storey tower to Spanish property company Metrovacesa for £1.1bn in 2007, buying it back a year later for £840m.

The tower is only seven years old, construction began in 1999 and was finished three years later, with 42 floors in the 200 metre high tower block where 8,000 staff work each day.

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