Overseas Investors Line Up for London Office Buildings

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Demand for the Gherkin, HSBC Tower Underscores City’s Property Boom

Real-estate investors from Asia and the Middle East are lining up to bid for two of the most recognizable office buildings in London’s skyline, adding heft to the U.K. capital’s property boom.

Within the City of London, the city’s financial district, 30 St. Mary Axe—widely known as the Gherkin for its pickle-like shape—will be directly marketed to dozens of investors next month for about £650 million, or about $1.1 billion, after going into receivership in April.

Further down the Thames in Canary Wharf, the financial district that sprang up from London’s former shipping docks, HSBC‘s HSBA.LN -0.35% global headquarters could become the most expensive single building ever sold in the U.K., if it goes for the marketed £1.1 billion.

 

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