Business

Canary Wharf to Reshape HSBC Tower in Major Overhaul

Jul 18, 2024 1 min read

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Canary Wharf Group (CWG) and the Qatar Investment Authority (QIA) are planning a significant transformation of the HSBC tower at 8 Canada Square in London’s Canary Wharf district. The project, slated to begin in 2027 after HSBC vacates the building, will involve carving out large sections of the facade to create terraces and converting the skyscraper into a mixed-use building. The redevelopment aims to introduce a mix of workspaces, leisure facilities, entertainment venues, educational institutions, and cultural attractions. This overhaul is expected to be one of the most high-profile office-to-mixed-use conversions since the pandemic.

The architectural firm Kohn Pedersen Fox (KPF) has been selected to design the project, which includes creating gardens, terraces, and public spaces with views across London. The transformation will also see the lower levels of the tower connected directly to the Elizabeth Line, and the trading floors replaced by theatres, restaurants, hotels, and shops. The estimated cost of the revamp ranges from £400 million to £800 million, depending on future building price inflation. CWG plans to submit a planning application to the London Borough of Tower Hamlets for approval, with the goal of completing the redevelopment by around 2030.

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