8 Canada Square – currently the headquarters of HSBC – will be transformed into a new-look, re-imagined multi-use skyscraper once the bank leaves its Canary Wharf headquarters.
The global bank is moving to the Square Mile in 2027 as part of a company refresh.
And this morning Canary Wharf Group announced a plan to overhaul the building into a building which it says will “include best-in-class workspaces, leisure, entertainment, education, and cultural attractions.”
The building itself is wholly owned by the Qatari sovereign wealth fund – the QIA – with Canary Wharf Group as the development partner.
It is hoped that the new 8 Canada Square, which will be one of the world’s biggest redevelopment projects, will add to the Wharf’s appeal.
Last year the east London hub received a record number of visitors, more than 65m, despite the rise of hybrid working.
The redevelopment will be led by renowned architects Kohn Pedersen Fox and will also include a new public walkway from Canary Wharf’s Elizabeth Line stop and the main Canada Square park at the heart of the Wharf, and a public viewing gallery atop the building.
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.”
Khan, who took over just before the pandemic struck, has driven a reinvention of the Docklands hub as ‘Canary Wharf 3.0’ with life sciences, retail, and residential added to the mix alongside the traditional finance houses which made up the Wharf for so long.
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.”
Canary Wharf Group announced earlier this year that Sir George Iacobescu, the property developer who had been instrumental to the Wharf’s growth since the ’80s, had stepped down as chairman to be replaced by City grandee Sir Nigel Wilson.
Planning permission will now be sought for the project, which would begin in 2027 if granted when HSBC’s lease comes to an end.