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Skanska inks £95m Helical Bar London office deal

Skanska has signed a £95m deal with Helical Bar to build One Mitre Square in the City of London.

The T-shaped development will provide 26,000 sq m of category A office space over 21 floors, served by 11 lifts.

The development, for which work will start in August, was designed by Sheppard Robson.

Skanska is responsible for construction, mechanical and electrical engineering and installation of services within the main plant rooms.

The contractor has landed several high-profile London office jobs in the last year, including the £500m 52 Lime St (Scalpel) job for W R Berkley, the £177m 1 New Street Square development in the City of London for Land Securities and the £29m 100 Cheapside redevelopment, backed by partners including Quadrant.

 

Skanska chief executive Mike Putnam told Construction News in February that bidding capacity was “not an issue” and it would continue to bid on office schemes as the market heats up.

Helical Bar announced in February it would start construction on the One Mitre Square (Creechurch Place) scheme this year, having completed demolition at the site in November 2013.

In its pipeline for future development, Helical Bar has planning permission for 226,000 sq ft of offices, 202,000 sq ft of residential and 24,000 sq ft of retail and leisure at Barts Square, London EC1.

It also obtained planning permission for the £150m regeneration of King Street, Hammersmith, with its joint venture partner Grainger; 61,000 sq fit of office space at Maple House in the City of London; and 250 homes in Cawston, Rugby.

The building is expected to achieve a BREEAM Excellent rating when complete and Skanska has committed to sustainable targets on waste, water and energy.

Skanska managing director Paul Heather said: “We’re pleased to add Creechurch Place to our portfolio of London commercial buildings… contracts like this are evidence of our growth strategy in action.

“They demonstrate how our highly experienced teams are well positioned to win and deliver a range of commercial opportunities in this rising market.”

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