£1.1bn HQ leaseback record for HSBC

HSBC today struck a record for a single UK property by agreeing the £1.1bn (€1.6bn) sale and leaseback of its iconic headquarters in London’s Docklands.

The banking giant has sold the 210m high tower, known as 8 Canada Square, to Spanish real estate firm Metrovacesa. It will lease the Canary Wharf building back for up to 25 years, paying an annual rent of £43.5m (€63.6nm).