HSBC has reportedly received 15 offers for its £1 bn Canary Wharf head office. The bidders include Evans Randall, German IVG Immobilien, Active Asset Investment Management, as well as a number of billionaire Gulf investors and Far East property tycoons, The Times newspaper reported in its online edition.

HSBC has reportedly received 15 offers for its £1 bn Canary Wharf head office. The bidders include Evans Randall, German IVG Immobilien, Active Asset Investment Management, as well as a number of billionaire Gulf investors and Far East property tycoons, The Times newspaper reported in its online edition.

The sale, which could be completed by the end of next month, will be the largest single office sale in Britain. It will take the form of a sale-and-lease-back deal, allowing HSBC to remain headquartered in Canary Wharf, in return for £43 mln rent per annum. A final shortlist of six bidders is due in six weeks, the daily said.

The property comprises 92,903 m2 of office space over 42 floors and four additional basement levels. Based on a £1 bn price tag and the reported rent, the sale would provide a yield of about 4.25%. HSBC is one of the largest banking and financial services organisations in the world.