Skanska's £273m Construction Project in the Heart of London

Global construction firm Skanska has taken on a new £273m construction project, which will see it refurbish a key building in the heart of London.

The project is expected to finish in 2029 and will result in a 14-storey build.

At the heart of the project is a series of sustainability goals, aiming to develop in a way that is not only good for the people, but for the planet too.

Skanska's history

Skanska was founded in Sweden in 1887 as a maker of concrete. Now, almost 140 years later, is it one of the world's largest development and construction companies. 

With operations across the Nordics, Europe and United States, Skanska uses knowledge as a key tool for shaping how people live, work and connect. It develops, designs and builds green office buildings, smart homes and infrastructure.

One Appold Street

Skanska is adding the latest project to its London portfolio, taking over the transformation of One Appold Street, Broadgate. The development was originally built in the 1980s, but is set to undergo a renovation in a £273m (US$373m) construction contract.

The existing shell and concrete structure will remain, but six new floors will be added to the development, alongside an expansion of the floorplate. 

The project will see the full construction, mechanical and electrical services installation undertaken by Skanska's in-house mechanical, electrical and public health (MEP) specialists. The contract is a joint venture between British Land and GIC, with Broadgate having assigned Skanska to take on the project. 

Leading global law firm Herbert Smith Freehills Kramer has signed a deal with British Land and GIC to take over 268,000 sq ft of the workspace once the building is complete.

Kelly Cleveland, Head of Real Estate and Investment at British Land, says: “There is an increasingly diverse mix of global businesses choosing Broadgate for its connectivity and amenities, sustainability standards and public spaces. 

“Herbert Smith Freehills Kramer’s decision to relocate across Exchange Square highlights how the quality of the public realm and amenity continues to shape occupier choice across the campus.

"Its commitment to retaining its London head office here continues our longstanding relationship and reinforces the strong demand we’re seeing for exceptional workspace in the best locations, which helps people and businesses thrive.”

It is expected the project will be complete by Q1 2029. By the end, it will comprise 360,000 sq ft of high-quality workspace, creating a 14-storey building and 48,000 sq ft of leisure and hospitality space.

The leisure space is currently under offer to a high-quality gym and health club operator. The build will also include terraces overlooking Exchange Square.

Skanska Executive Vice President Terry Muckian says: “Partnering with British Land for another major office in London is a privilege. 

"Together we have designed and delivered outstanding buildings that transform spaces and have enabled businesses to create exceptional working environments. The redevelopment of One Appold Street will further enrich Broadgate, delivering a modern, elegant building that complements the neighbourhood.”

All supply chain, sustainability, Scope 3 and net zero leaders should attend:

• Procurement and Supply Chain LIVE: The Net Zero Summit - QEII Centre, London, March 4-5

• Procurement and Supply Chain LIVE: The US Summit - Navy Pier, Chicago, April 21-22

Co-located with Sustainability LIVE, these events brings together CSCOs, CSOs and senior decision-makers at a moment when sustainability, supply chains and commercial performance are increasingly interconnected.
Tickets can be booked online today for The Net Zero Summit and The US Summit. Group discounts available.

The sustainability venture

A major element of the redevelopment plan for One Appold Street is sustainability. For the design team, the leading focus is circularity and how they can ensure the build remains as eco-friendly as possible with a reduction of waste. The aim for the project is to hit high sustainability targets, including BREEAM Outstanding and NABERS 5-5.5*. 

Tony Boorer, Project Director for Skanska, adds: “We’ve worked closely with our customer to design a building with sustainability embedded in its DNA. 

"By structurally refurbishing the building, the existing concrete and steel frame will be largely retained, avoiding the high carbon impact of demolition and in fabricating new steel. We’re excited to move into full delivery and look forward to seeing the project develop.”