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Skanska lands £282m City office contract
Skanska UK has secured a £282m contract to deliver the redevelopment of 55 Old Broad Street in the City of London for private equity real estate firm AshbyCapital.
The contract, announced today by the firm’s Swedish parent company, will be included in Skanska’s European order bookings for the second quarter of 2026.
Construction is due to start in October and finish in late 2029.
The 23-storey scheme, close to Liverpool Street station, will provide 25,000 square metres of office space and 1,400 square metres of retail, food and beverage facilities alongside new public realm areas.
The scheme retains the existing basement and lower levels of the original 1974 building while creating new office floors above to deliver modern workspace in the City.
Skanska UK will carry out the main construction works, including the installation of the mechanical, electrical and public health engineering systems.
The contractor will also refurbish the adjacent five-storey building at 65 Old Broad Street and carry out the restoration of the Grade II-listed Bishopsgate Victorian Bath House.
Landsec secured planning permission for the scheme in December 2023 and has retained a role as development manager after AshbyCapital took the project forward.
Designed by Fletcher Priest Architects, the redevelopment will target BREEAM Outstanding and a 5-star Nabers rating.
According to Glenigan, Keltbray is the demolition subcontractor on the job.
Lee Marks, executive vice-president at Skanska, said: “55 Old Broad Street is in a prime City of London location, just a stone’s throw from Liverpool Street station. This development will create high-quality, future-ready workspace in an exceptionally well-connected commercial district.”
Source/Image Source: Construction News
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