Bank of Nova Scotia is looking to sell its headquarters in the heart of Toronto’s financial district, with a price tag of as much as $1-billion.
Completed in the late 1980s, the 68-storey tower at 40 King Street West known as Scotia Plaza is reportedly the only bank building in the country with its own bullion vault in the basement.
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If the building fetches the rumoured $1-billion asking price, it would be Canada’s most expensive office tower deal ever.
Designed by Toronto-based WZMH Architects who are also known for their condominium towers, Scotia Plaza is one of the most sought-after office locations in the financial district.
News of the potential sale comes a day Scotiabank announced the completion of its acquisition of a 51% stake in Banco Colpatria of Colombia for $1-billion.