HSBC agrees sale and leasebac

RNS Number : 4800E

HSBC Holdings PLC

21 December 2009

 



21 December 2009

HSBC FRANCE AGREES SALE AND LEASEBACK
OF ITS CHAMPS-ELYSÉES HEADQUARTERS IN PARIS

HSBC France, a subsidiary of HSBC Holdings plc, has agreed to sell its buildings at 103 avenue des Champs-Elysées and 15 rue Vernet for €400 million. 

The agreement to sell the buildings has been entered into with French Properties Management. The sale will be completed, subject to the satisfaction of any necessary conditions1, with a subsidiary of a French OPCI (Organisme de Placement Collectif Immobilier) established for the transaction. HSBC France has agreed to lease the buildings for nine years, with break clauses in years four, five and six.

The transaction is expected to complete in the first quarter of 2010.

Media enquiries to 
Brendan McNamara on [phone] or at [e-mail]
Sophie Ricord on [phone] or at [e-mail] 

Notes to editors:

Footnote
1. There is one condition precedent: that the City of Paris does not exercise its right of pre-emption to buy the buildings in the two months' period immediately following the agreement.

French Properties Management

French Properties Management is a real estate asset manager acting in France for private investors. French Properties Management have been managing many prime core significant real estate assets for its clients mainly in France for several years.

HSBC France

HSBC France, previously CCF, which was founded in 1894, joined the HSBC Group in 2000 and switched to the HSBC France brand in November 2005. HSBC France is headquartered in Paris. Serving customers from around 430 offices across France and more than 11,600 employees, HSBC France is a universal bank serving both personal and business customers. 

HSBC Holdings plc

HSBC Holdings plc, the parent company of the HSBC Group, is headquartered in London. The Group serves customers worldwide from around 8,500 offices in 86 countries and territories in Europe, the Asia-Pacific region, the Americas, the Middle East and Africa. With assets of US$2,422 billion at 30 June 2009, HSBC is one of the world's largest banking and financial services organisations. HSBC is marketed worldwide as 'the world's local bank'.

 

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