London’s second-largest private sector corporate tenant is set to follow in the wake of big occupiers like Clifford Chance and take much less space in its future global headquarters, Bisnow can reveal. HSBC is reviewing its options ahead of a 2027 lease expiry at its 1.8M SF HQ at 8 Canada Square in Canary Wharf. And it is planning something much smaller, which will significantly reduce its property costs. “On both I can say no,” HSBC Managing Director Esra Fanoscu told the audience at Bisnow’s London State of the Market event at Ashby Capital’s The Kensington Building last week, answering a question about whether its new HQ would be the same size and whether it will pay the same amount. 
“Our occupancy rate is around 40 to 50%,” Fanoscu said. “In the future, we don't think that this will significantly change, because we were already embracing hybrid work. So we're looking for something much smaller.”A memo to HSBC London staff from Chief Operating Officer John Hinshaw in September said the…  Read the full story here. | 
