HSBC is set to strengthen its working relationship with Metrovacesa after selling its global headquarters in London's Canary Wharf financial district to the Spanish property group in a record £1.1bn (1.6bn) deal today.

HSBC, which has been running an auction of the 42-storey office tower that houses 8,000 of its staff, today confirmed that it has reached an agreement for a sale and leaseback with Metrovacesa that is the UK's largest single property deal.