Skanska has secured a contract from property firm Land Securities to design and construct a £260m New Ludgate mixed-use development in the City of London.
The company won the mixed-use project after beating off completion from Mace, Lend Lease and Sir Robert McAlpine.
Designed by architects Fletcher Priest and Sauerbruch Hutton, the 379,000ft² scheme occupies an island site near St Paul’s Cathedral.
Under the £109m contract, Skanska will construct two buildings, a new public piazza and new public areas.
Skanska will also construct 33,000ft² of restaurant and retail facilities at ground and basement levels as well as improved pedestrian links.
Construction is expected to start on site in August 2013 and complete in April 2015.
Land Securities said its decision to go ahead with 1 & 2 New Ludgate follows the announcement in May 2013 that it is committing to the next phase of its £2.2bn redevelopment of Victoria in London’s West End.
Land Securities head of London development Colette O’Shea said that the development will appeal to a wide range of occupiers seeking space in central London.
"Our decision to commence the speculative development of 1 & 2 New Ludgate reflects our confidence both in the City office market, where we believe supply of new space will be constrained in 2015, and in the quality of the attractive and highly efficient office space we are creating," O’Shea said.
Earlier in 2013, Land Securities has appointed Lend Lease to construct two new buildings at the site of the former Kingsgate House in central London.
The two buildings, the Zig Zag Building and Kings Gate, are part of Land Securities’ plans to redevelop Kingsgate House on Victoria Street.
Image: The 379,000ft² New Ludgate mixed-use scheme will feature two buildings and a new public piazza. Photo: Courtesy of Skanska.