HSBC waiting for £180m sale
November 30th, 2007 | by Adam Lucking
The West End headquarters of HSBC, based on 78 St James’s Street, SW1, has been put on the market by RREEF, its German landlord.
The 124,000 sq ft of office space is estimated to be worth around £178.5m, reflecting a 5.2% yield, following a rent review in September 2008.
Currently HSBC is paying £83.50 per sq ft. It is expected to rise to £107 per sq ft next year. This will set a record for rent review, with the previous record £100 per sq ft, set by GE Capital in Berkeley Square, W1 in September 2007.
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