HSBC buys back Canary Wharf HQ

Global banking giant HSBC today booked a £250m (€280m) profit after repurchasing its European headquarters in London from a Spanish property firm.

Fri, 05 Dec, 2008 - 13:15

Global banking giant HSBC today booked a £250m (€280m) profit after repurchasing its European headquarters in London from a Spanish property firm.

Metrovacesa spent a record £1.1bn (€1.26bn) on the building 18 months ago but offered to sell it back to the bank at a loss after failing to refinance a loan secured on the 690ft-high Canary Wharf tower.

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CourtsBusinessHeathrowPlace: LondonPlace: EuropeanPlace: Canary WharfPlace: 8 Canada SquareOrganisation: HSBCOrganisation: Canary WharfOrganisation: Metrovacesa
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