Skanska secures £282m contract for 55 Old Broad Street office tower

Skanska has secured a £282m contract with AshbyCapital to deliver 55 Old Broad Street, a major new commercial development in the City of London.

The scheme will provide around 270,000 sq ft of high-quality office space across 23 storeys, creating a new workplace destination in the heart of the capital’s financial district.

Landsec is acting as development manager for the project, continuing its long-standing relationship with Skanska across major UK developments.

Project Overview

📍 55 Old Broad Street, City of London

👤 Client: AshbyCapital

🏗 Main Contractor: Skanska

🏢 Development Manager: Landsec

💰 Contract Value: £282m

🏙 Development: 23-storey office tower

📐 Size: 270,000 sq ft

📅 Construction Start: October 2026

Scope of Works

Skanska will deliver the main construction works, including:

• 23-storey commercial office building

• Full mechanical, electrical and public health systems installation

• Cat A fit-out

• Public realm improvements

• Refurbishment of the Grade II-listed

Bishopsgate Victorian Bath House

The project will create a future-ready office development while also incorporating sensitive heritage refurbishment within the wider scheme.

ConstructNet Supply Chain Analysis

As construction moves towards its October start, opportunities are expected across a range of specialist packages, including:

• Demolition and enabling works

• Groundworks and substructure

• Structural steel and concrete frame

• Façade and glazing systems

• Mechanical, electrical and public health services

• Lift and vertical transportation systems

• Cat A fit-out

• Heritage refurbishment specialists

• Public realm and landscaping contractors

• Building materials and specialist suppliers

ConstructNet Intelligence

The award marks another major City of London project for Skanska and reinforces continued demand for high-quality, sustainable office space in prime central London locations.

The scheme is particularly notable because it combines new-build commercial workspace, major building services delivery, Cat A fit-out, public realm improvements and heritage refurbishment.

For the wider supply chain, 55 Old Broad Street is expected to generate opportunities across both complex commercial construction and specialist heritage restoration packages.