Canary Wharf's iconic HSBC Tower is set to undergo a dramatic transformation into a mixed-use development, with plans to cut holes into its upper floors and add a publicly accessible rooftop venue. The proposals, submitted by Qatar Investment Authority (QIA) and Canary Wharf Group (CWG) to Tower Hamlets Council, outline a 45-storey building featuring a 181-room hotel, restaurants, leisure facilities, and office space. The renovation is expected to cost between £800 million and £1 billion, according to reports.
Design and Features
The design includes cutting away chunks of the upper floors to create terraces throughout the building, giving it a 'Swiss cheese' appearance. A walkway will cut through the ground floors, linking the Elizabeth line station with Canada Square Park. The middle floors will be dedicated to office space, designed for multiple occupants rather than a single tenant. According to The Banker, asset management company BlackRock is already eyeing the space.
The top floors will feature staggered terraces and a large glass box called 'The Cloud', which will serve as an event space with restaurants and bars, offering panoramic views of the city.
Timeline and Leadership
HSBC's lease on the building expires next year, and the banking giant is expected to move to the City of London. The tower will be stripped of its interiors once HSBC leaves in 2027, with renovation expected to begin in 2028. No official completion date has been shared.
Shobi Khan, CEO of CWG, said in a statement: '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.'
Elie Gamburg, of architectural practice Kohn Pedersen Fox, which is leading the revamp, 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.'
Other London Transformations
The HSBC Tower is not the only London landmark being converted into a hotel. The BT Tower is also being transformed into a hotel with a rooftop swimming pool, a 360-degree revolving observation deck, and retail space. Meanwhile, the City of London is set to gain a new £1 billion skyscraper with panoramic views and the 'highest bar in London'. In south London, several new skyscrapers are being built in Vauxhall, including homes, student accommodation, another hotel, and retail and leisure amenities.
