Financial Cost
Counting from its official opening in April 2003, it was only four years before difficulties emerged in managing the building and its associated costs. In April 2007, HSBC Tower was sold to Spanish property company Metrovacesa, becoming the first building in Britain to be sold for more than £1bn. On 5 December 2008, HSBC Holdings re-acquired ownership of the building, declaring that the agreement had resulted in a £250 million ($368 million) profit in the second half of the year. However, on 13 November 2009, HSBC once again sold the building, this time to the National Pension Service of Korea ('NPS') for £772.5 million. HSBC's income statement on completion declared a gain of approximately £350 million resulting from the transaction, which was finalised shortly before the end of the year 2009. Whether HSBC will attempt to take ownership of the building again in future remains unknown, but at present the building is fully occupied and continues to serve as the main headquarters of the company.
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