Results tagged “Metrovacesa”

HSBC is toying with the idea of selling its Canary Wharf HQ - just four months after re-taking control of the building.

The company made a £250million profit on Metrovacesa's ill-fated £1.09billion deal for 8 Canada Square, but revealed this week that it could consider re-selling the 45-storey tower.

HSBC will be staying in Canary Wharf, at least for the next three years.

The banking giant decided to retain its London headquarters following a review published just before Christmas.

HSBC has re-taken control of its Canada Square HQ from stricken property company Metrovacesa, making a £250million profit in the process.

The Spanish firm bought 8 Canada Square for a record £1.09billion in April last year, but has been forced to return the building as it struggles with debts of more than £7billion.

BANKING giant HSBC is in talks to buy back its Canary Wharf headquarters according to a report in the Financial Times.

Spain's property firm Metrovacesa, which bought the tower for £1.1billion last summer, has until November to refinance an £810million loan from HSBC, which it used to purchase the building.

It is believed a sale is now the most likely outcome.