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Skanska confirmed for £28m Cheapside job

Construction is to start immediately on the redevelopment of 100 Cheapside in the City of London, after Skanska was officially announced today as the contractor on the 100,000 sq ft prime office development.

As first revealed by Construction News, the £28m job will see Skanska deliver 86,500 sq ft of grade A office space close to the Bank of England.

The development will have floor plates of up to 11,000 sq ft over 10 floors, and will also include 9,000 sq ft of retail space.

The developer said today the building would be BREEAM Excellent and built to LEED Platinum rating.

Paul Heather, Skanska’s managing director, building – London and South East, said: “Winning this project in such competitive market conditions is a true testament to our commitment to a more sustainable future and our client’s confidence that they can use our knowledge and skills to achieve a building that meets the high environmental standards of today and for years to come.”

100 Cheapside is being developed by Quadrant Estates, with backing from CarVal Investors, Orion Capital Management and the City of London.

It is scheduled for completion in September 2014.

Quadrant Estates director Graham Tyler said: “We have set high environmental targets for 100 Cheapside, and as a leader in sustainability Skanska is best placed to meet these.”

The contract marks the second major job Skanska has picked up from Quadrant in the past year. It is already on site at the £140m Moorgate Exchange project, also in the City of London.

It won the £57m contract with Quadrant, MGPA and CarVal investors last March.

Tristram Gethin, managing director and founding partner of Quadrant Estates, who is overseeing the development, commented on behalf of the investors: “We are right on track with the development of 100 Cheapside, which will occupy a prime site in the heart of the City. 

“It is one of the last pieces of Cheapside to be redeveloped. 

“The spectacular building will have stunning views from its ninth floor roof terrace and will attract occupiers looking for a high spec HQ building in a great location.”

The building, designed by EPR Architects, has a cladding system which incorporates Portland Stone and pre-fabricated glass, fitted to a structural steel frame.

Earlier this year, another Quadrant and Orion project – the £25m Carmelite Riverside offices on Victoria Embankment

100 Cheapside development in London

– was awarded to Morgan Sindall.



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