Canary Wharf to carve out terraces in £400m HSBC tower makeover

The HSBC tower in Canary Wharf is set to receive a major makeover once the bank leaves, with large chunks of the facade to be removed.

The Canary Wharf Group (CWG) will transform the 1.1 million-square-foot skyscraper at 8 Canada Square into a unique destination, which will include “best-in-class workspaces, leisure, entertainment, education, and cultural attractions”.

The project would be the largest ever conversion of an office skyscraper to become a “mixed use” building, according to early plans from developers, who manage the tower on behalf of its owner the Qatar Investment Authority (QIA).

CWG said the redevelopment will allow the public to enjoy “outstanding views” across London from the capital’s financial district for the first time.

The project is set to begin in 2027, following the expiry of the current HSBC lease.

open image in gallery

open image in gallery

Kohn Pedersen Fox, the architectural practice, won a global competition run by QIA and CWG to reimagine the building from a single-use office building to a “highly sustainable, mixed-use building of the future”.

The redevelopment will cost between £400 million - £800 million, people familiar with the matter told the Financial Times.

Shobi Khan, CEO of Canary Wharf Group, said: “We look forward to working with QIA on 8 Canada Square to deliver a building of outstanding design, engineering and sustainability standards.

“This redevelopment is another step in Canary Wharf’s evolution into a vibrant mixed-use neighbourhood offering workspace, retail, homes, leisure and amenities all in one location – a true 15-minute city.”

open image in gallery

Elie Gamburg, Design Principal at Kohn Pedersen Fox (KPF), said: “We are extremely excited to collaborate with QIA and CWG to reimagine the single-use office building as a blueprint for the highly sustainable, mixed-use building of the future.

“This transformation embodies the ethos behind much of our work, we see it as an integral part of the evolution of today’s single-use neighbourhoods into vibrant mixed-use neighbourhoods of tomorrow – an evolution of which CWG is already leading the way.”

HSBC moved into the building in 2002. Last summer, it announced that it was leaving for a new office in the City of London.

CWG and QIA will be working with the London Borough of Tower Hamlets and the appointed team to develop plans and submit a planning application.