Skanska undertakes £135m structural refurbishment of commercial office in London, UK
April 05, 2021 – Sweden-based Skanska has signed a£135m(about SEK1.5bn) contract with UK-based property management firm Quadrant Estates for the structural refurbishment of a 11-storey commercial office in London.
One of the world’s leading construction groups based in the Nordics with headquarters in Stockholm, Skanska’s London commercial office venture’s funding will be managed by American global asset management firm Oaktree Capital Management.
The 11-storey office that is set for refurbishment is located in 30 South Colonnade in Canary Wharf, London, UK.
The Skanska-Quadrant contract will be included in Europe’s order bookings for the first quarter of 2021.
Structural refurbishment works include installation of new cladding, lifts and plant, in addition to building three new office floors along with a new reception.
The building will be constructed keeping in mind all the necessary environmental standards in order to achieve BREEAM Outstanding and the WELL Building Standard Platinum certifications.
Scheduled to begin in April 2021, work is expected to be completed in the final quarter of 2022.
Not just in the Nordics, Skanska is also a leading project development company in Europe having building construction and civil engineering operations in Czech Republic, Slovakia, Poland, Romania, Hungary and the UK.
Skanska’s European ventures include developing commercial properties in select home markets in Poland, Romania, Czech Republic and Hungary, as well as developing residential properties in the UK, Czech Republic and Poland with the BoKlok concept.
Development sales for Skanska reached£2.14bn (SEK26bn) in 2020. Outside the Nordics, Skanska has a workforce strength of 10,100 in its European operations.