Written By Sabuj Mia
JLL and GM Real Estate are advertising for HSBC tower to be sold .The HSBC’s Global HQ –HSBC tower was first sold to an Spanish Property Company “METROVACESA” for £1.1 billion when London’s House price was in boom. HSBC has taken over the Ownership back when financial difficulties hit the Spanish company Metrovacesa in 2008.
Canary Wharf London the Biggest HSBC Buildings
The Building has Again been sold to the World’s 3rd largest Pension Fund- The South Korean National Pension Fund(NPF). The JP Morgan Advised the NPF to free up its Fund for other opportunities across the Europe, by seeking to sell the HSBC Tower.
The HSBC has 13 years lease on the Buildings and annual rent reviews are only applicable if inflation is upward which means a good signal to the potential Investors seeking to hedge again inflation.
It was planned to relocate HSBC’s HQ to Hong Kong due to stricter EU restriction on Bankers’ Bonuses. But Last year HSBC ruled out to stay in the UK.
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