UK-based construction firm VolkerFitzpatrick has been selected by Beltane Asset Management for a £25m office expansion project in London.
The project will involve revamp works for 1980s office building at 24 King William Street and extend its area to 80,000ft², reports Construction Enquirer.
The building is located near Monument station and has an estimated gross development value of more than £100m.
Two floors will be added to the existing nine-storey building, along with a limestone and glazed façade and a new interior for the remodelling project.
Ben Adams Architects was responsible for developing the new designs of the project, for which Mecserve has been appointed as building services consultant.
Beltane co-founder Duncan Roe was quoted by Construction Enquirer as saying: "Site works have just begun and we are confident of this building's success, given the shortage of quality space coming to the market in the City."
Construction works for the project are expected to be completed in the second quarter of 2017.
VolkerFitzpatrick is also responsible for the design and development of another UK office building in Weybridge, Surrey.
The firm had started construction works for the £22.8m development in October and intends to complete it by September 2016.