HSBC chooses St Paul’s over Canary Wharf

HSBC has decided to leave its Canary Wharf HQ to relocate to the former BT head office near St Paul’s Cathedral. The relocation is due to take place in 2027, when its lease on the 45-floor tower at 8 Canada Square, E14, expires, under plans expected to be announced to employees at the bank today. HSBC has been considering a number of options since informing staff that it would reassess its space in September. The bank is understood to have opted for the Panorama St Paul’s development at 81 Newgate Street, EC1. Orion Capital Managers bought the 1980s office building from BT in 2019 for £210m. It received planning in 2020, alongside Pella Real Estate Partners, for a Kohn Pedersen Fox-designed redevelopment providing more than 800,000 sq ft of space, including 570,000 sq ft of offices over 13 floors. The Times (£)