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Skanska is poised to win its second London Quadrant development in 12 months

Skanska is in pole position to win a prestigious contract to redevelop 100 Cheapside in the City of London.

The £28m job will see Skanska deliver 86,500 sq ft of grade A office space close to the Bank of England as part of the 100,000 sq ft office and retail development.

The nine-floor development, which will include a roof terrace, is scheduled to be completed in August 2014.

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

Quadrant Estates director Graham Tyler said: “We are keen to get started on this major city development very soon and we will be making an announcement on our chosen contractor in the next few days.”

The 100 Cheapside development will have floor plates covering a total of 11,200 sq ft.

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 located in the City of London.

The contractor was awarded the £57m contract by Quadrant, MGPA and CarVal investors last March.

Morgan Sindall picked up the £25m Carmelite Riverside job from Quadrant and Orion in January this year.


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