HSBC to Leave Canary Wharf Headquarters

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26 June 2023

HSBC is planning to leave its Canary Wharf headquarters at 8 Canada Square when the lease expires in 2027.

As reported by The Times, the global bank will move into BT’s former head office at 81 Newgate Street, a site half the size of 8 Canada Square.

This move has been rumoured since a leaked memo from Chief Operating Officer John Hinshaw stated that the bank wanted to assess its "best future location in London”.  CEO Noel Quinn announced in February 2021 that HSBC would be shedding its office footprint by forty per cent, but would still maintain a city presence.

HSBC has occupied 8 Canada Square since 2002.

81 Newgate Street

81 Newgate Street in London St Paul’s has undergone extensive renovation in recent years since BT left the site to move to a new base in Aldgate. The former 1980s office building aims to become the city’s first net-zero-carbon-enabled office development. It will feature a public roof terrace, one of the biggest in Central London, with panoramic views.

570,000 sq ft of office space is set to complete in late 2024, as well as dining terraces, a retail arcade and a wildflower meadow, all open to the public.

The project was shortlisted for a New London Award in the retrofit category in 2022.

Picture: a photograph of the HSBC tower at Canada Square. Image Credit: Unsplash

Article written by Ella Tansley | Published 26 June 2023

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