HSBC’s new London headquarters will be half the size of its current Canary Wharf home.
The bank is working with Cushman & Wakefield to find a new global headquarters of between 400,000 and 500,000 sq ft. The bank’s 45-storey tower at 8 Canada Square, E14, spans 1.1m sq ft. Roughly 10 floors have already been mothballed. It moved into the tower, owned by Qatar’s sovereign wealth fund, in 2002. Its lease expires in early 2027.
HSBC, which has embraced home working to a greater extent than Wall Street peers JP Morgan and Goldman Sachs, is on a global drive to slash its office space by 40% compared with pre-pandemic levels.
