HSBC asked to buy back headquarters
29-11-2008
Spanish property developer, Metrovacesa, has proposed to sell the building of HSBC's London Headquarters back to the bank for 838 million pounds. HSBC sold the property to the firm for 1.09 billion pounds in April last year. But the developer is facing problems financing its loan on the property, given that commercial property prices in central London have fallen by over a third since it made the purchase. HSBC says it's in talks with the Spanish developer.
