Canary Wharf Group has unveiled plans to remove large chunks from the HSBC tower as part of a revamp of the 42-storey office block when the bank moves out in 2027, in a reflection of the changing face of the east London financial district after the pandemic.
The property company said it would carve out sections of the tower’s facade to create terraces as part of plans to transform the block into a mixed-use building that would include leisure facilities and a public viewing gallery.
Developers behind the district are attempting to reshape its image as the rise in working from home cuts office demand and has changed when the busiest times are in the Docklands area.
Canary Wharf Group (CWG), which manages the building on behalf of the Qatar Investment Authority (QIA), said it would be the largest-ever conversion of an office tower into a mixed-use building. The revamp, which has been proposed by the US architecture firm Kohn Pedersen Fox, is expected to be finished by about 2030.
QIA acquired the property from the National Pension Service of South Korea in 2014 for £1.1bn.
The building, known officially as 8 Canada Square, was completed in 2002 and has been the headquarters of HSBC ever since. Last year the bank announced plans to relocate before its lease expires in early 2027.
CWG said the tower would continue to include some office space, as well leisure, entertainment and cultural attractions.
Designers will carve out new terraces by making some floors smaller, and the building will be divided into defined sections to make it easier to lease.
Elie Gamburg, a design principal at Kohn Pedersen Fox, 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.”
Shobi Khan, the chief executive of CWG, said: “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.”