| Qatar’s sovereign wealth fund has agreed to buy HSBC’s global headquarters, London’s biggest and most expensive office building, in the latest sign that the global financial capital’s commercial property market is still strong. The Qatar Investment Authority will pay just over £1.1bn to Korea’s National Pension Service for the building, said people familiar with the matter.
The price just tops the previous record for the Canary Wharf tower, which was bought by Spanish property company Metrovacesa for £1.09bn in 2006. HSBC had to take ownership back in-house in 2008 after Metrovacesa got into financial difficulties. It later sold the building to Korean pension fund NPS for nearly £800m...............................................Full Article: Source
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