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HSBC aiming to pull in £2.7bn from selling HQs
5 Oct 2009Europe's largest bank HSBC today agreed the sale and leaseback of its New York headquarters for $330 million (£206 million), the first of three such planned transactions.
HSBC is also looking to sell and lease back its Hong Kong headquarters and its Canary Wharf headquarters in London. The three deals together could raise as much as £2.7 billion according to property analysts.
The Canary Wharf headquarters was originally sold to Spanish property company Metrovacesa for £1.09 billion in June 2007 but bought back by HSBC 18 months later for just £838 million after the Spanish failed to refinance a loan.
South Korea's national pension fund last week revealed it was in discussions over Canary Wharf.
The New York office on Fifth Avenue has been sold to companies controlled by Israeli businessman Nochi Danker.
