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HSBC’s Canary HQ set for £1.1bn sale

HSBC’s global headquarters in Canary Wharf is set to be put up for sale as NPS looks to turn a c.£300m profit on a building with previous history of being traded at both the top and the bottom of the market.
By James Buckley
April 25, 2014 | 5:34 P.M.

Following a competitive pitch between the country’s largest agents, National Pension Service of Korea (NPS), alongside adviser JP Morgan, has instructed GM Real Estate and JLL to sell the 1.08m sq ft building at 8 Canada Square, E14. The sale of the property is expected to be formally launched in around a month and, while no guide price has yet been set, is expected to fetch around £1.1bn, substantially over the £772.5m or 5.9% - it paid for the asset in December 2009.

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News | HSBC’s Canary HQ set for £1.1bn sale