SWT Property Company Limited, a wholly owned subsidiary of Malta Properties Company p.l.c., has signed the final deed of sale for HSBC Bank Malta p.l.c.’s office complex in Swatar, and, according to reports by Malta Business Weekly, has acquired the complex for a consideration of €7.825 million.

HSBC Call Centre in Swatar - Photo by Attard Bros

The agreement will see the complex continue to be leased to HSBC Global Services (UK) Limited (HSBC HGSU) for use as a Contact Centre. According to media reports, HSBC HGSU has also committed to an extensive refurbishment of the property worth €1 million.

In comments to the media, Mohsin Majid, Chief Executive Officer of Malta Properties Company said: “By finalising the purchase of this property, MPC continues to develop and diversify its portfolio of commercial property. We also look forward to a mutually beneficial relationship with HSBC HGSU, which as previously announced remains the lessee of the premises. In this way we are also expanding the list of our high-quality tenants – which already includes GO p.l.c., the Planning Authority, the Finco Group of Companies and Vodafone Malta Limited – thereby adding resilience and new revenue streams to our business.”