Household HSBC Watch

LONDON (AP) - HSBC Holdings PLC is to sell its London headquarters in Canary Wharf, its property adviser confirmed late Friday.

The building is expected to fetch up to 1 billion British pounds ($1.97 billion), which would make it the most expensive office building in Britain.

Located at 8 Canada Square, the 656-foot tall tower has 1.1 million square feet of office space on 45 stories.

HSBC, Europe’s largest bank measured by market capitalization, plans to continue occupying the building and is proposing to lease it back on a 15-year lease at a rent of about 45 million British pounds ($88.5 million) per year.