Skanska has secured a £282 million contract to deliver the 55 Old Broad Street office project in London. The agreement was signed with private equity real estate firm AshbyCapital, and the project will be reflected in Skanska's European order bookings in the second quarter of 2026. The development includes a 23-storey office building offering approximately 25,000 square metres of office space, plus 1,400 square metres for food, retail, and public areas, along with refurbishment of the adjacent 65 Old Broad Street and the Grade II-listed Bishopsgate Victorian Bath House. Construction is scheduled to start in October 2026 and finish in late 2029, with Landsec remaining as development manager after selling the site to AshbyCapital. The fully electric building will target NABERS five-star and BREEAM Outstanding certifications, powered by air-source heat pumps and renewable electricity.
Land Securities Group PLCLandsec remains as development manager after selling the site, indicating ongoing involvement and revenue from the project.
AshbyCapital signed the contract for the office project, representing a major real estate investment.