Canary Wharf Group has revealed plans to overhaul the HSBC tower in east London’s financial district after the bank moves out in 2027. The revamp will include creating terraces, leisure facilities, and a public viewing gallery, transforming the 42-storey office block into a mixed-use building. This is in response to the changing demand for office space due to the pandemic.
The building, known as 8 Canada Square, will retain some office space but will also feature leisure, entertainment, and cultural attractions. The redesign, led by US architecture firm Kohn Pedersen Fox, is expected to be completed by 2030. The project is the largest-ever conversion of an office tower into a mixed-use building.
The £1.1 billion property, acquired by the Qatar Investment Authority (QIA) in 2014, will see significant changes to its exterior and interior. The conversion could cost between £400m and £800m, though exact figures are yet to be finalized. This move reflects the broader trend of businesses reevaluating their office space needs in light of remote work arrangements.
Canary Wharf’s transformation, spearheaded by the late Canadian property tycoon Paul Reichmann, has been a key part of the redevelopment of London’s Docklands. As the district evolves into a vibrant mixed-use neighborhood, the revamp of the HSBC tower signals a shift towards sustainability and flexibility in office design. With the COVID-19 pandemic reshaping work patterns, developers are adapting their offerings to meet changing demand and cater to a diverse range of needs within the community.
Source
Photo credit www.theguardian.com