HSBC's landmark tower at Canary Wharf could be radically transformed under a £1billion renovation project.

Planning proposals to alter the 45-storey tower at 8 Canada Square have been submitted by Canary Wharf Group and the building's owner Qatar Investment Authority to Tower Hamlets Council.

The retrofit scheme has been billed as the world's largest office transformation and would likely take place after HSBC vacates the building next year, Construction Enquirer reports.

The plans from architect Kohn Pedersen Fox would preserve the current 1.1 million sq ft buildings, while reconfiguring its higher storeys into luxurious landscaped terraces.

But the pinnacle of the design would be dazzling rooftop destination, open to the public.

Much of the former bank headquarters would be turned into a 181-room hotel, while restaurants and leisure facilities will take over the upper floors. Some areas would be retained for office space.

This focal point, named the "Cloud" on levels 42 and 43, would see large parts of the upper floorplates stripped in order to create the publicly accessible rooftop venue, which would boast panoramic views of the capital.

If the plans are approved, a pedestrian route crossing north and south will cut through the building, allowing easy access to the Elizabeth line station with Canada Square Park.

HSBC's lease on the building expires in 2027 and it is expected to move into the heart of the City. The building will be stripped of its interiors afterwards, ahead of the renovation in around 2028.

Architects KPF were announced as the winners of the design competition for the project in 2024, defeating rivals said to include Foster & Partners - who designed the original tower, as well as Danish firm 3XN.

Gardiner & Theobald will act as project manager and cost consultant on the scheme, with Robert Bird Group as structural engineer, Sweco as MEP and sustainability consultant.