(Adds that HSBC, GM Real Estate and JLL could not be reached
for comment, paragraph 3)
April 25 London's largest and most expensive
office building, HSBC Holding Plc's global
headquarters, is up for sale and could fetch over 1.1 billion
pounds ($1.85 billion), a record price for the British market,
the Financial Times reported.
The Canary Wharf-based 44-storey, 1.1 million square foot
building is being marketed by estate agents JLL and GM Real
Estate, according to sources familiar with the matter, the FT
HSBC, GM Real Estate and JLL could not be reached for
comment outside of regular business hours.
At the height of the British property boom in 2007, the HSBC
tower became the most expensive building in London when it sold
for 1.09 billion pounds.
The FT said HSBC had a 13-year lease on the building and is
committed to annual upward-only inflation-linked rent reviews,
citing sources familiar with the tenancy arrangements. This
would make it an attractive proposition for investors seeking a
hedge against inflation.
($1 = 0.5953 British Pounds)
(Reporting by Richa Naidu in Bangalore; Editing by Bernard Orr
and Lisa Shumaker)