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HSBC in talks to buy back London tower
HSBC is engaged in talks to repurchase its UK headquarters for up to £300m less than it sold the property for last year.
The financial institution sold the London tower, based in Canary Wharf, to Spanish property company Metrovacesa in a £1.1bn sale-and-leaseback deal last summer.
The deal made the London tower Britain's most expensive property and the Spanish company have recently been forced to sell many of its assets at a loss as it seeks to restructure £7bn worth of debt.
The value of the building has now fallen to around £800m, and although Metrovacesa have confirmed a sale to HSBC is an possibility the company has insisted there are other options, including refinancing.
Post Date: October 15th, 2008
The financial institution sold the London tower, based in Canary Wharf, to Spanish property company Metrovacesa in a £1.1bn sale-and-leaseback deal last summer.
The deal made the London tower Britain's most expensive property and the Spanish company have recently been forced to sell many of its assets at a loss as it seeks to restructure £7bn worth of debt.
The value of the building has now fallen to around £800m, and although Metrovacesa have confirmed a sale to HSBC is an possibility the company has insisted there are other options, including refinancing.
Post Date: October 15th, 2008