Skanska builds new commercial office in London, UK, for GBP 135M, about SEK 1.5 billion

4/1/2021 7:30 AM CET

Press release

Skanska has signed a contract with Quadrant and funds managed by Oaktree Capital Management, L.P. ('Oaktree') to build YY London, 30 South Colonnade in Canary Wharf, London, UK. The contract is worth GBP 135M, about SEK 1.5 billion, which will be included in the order bookings for Europe in the first quarter of 2021.

Skanska will carry out the structural refurbishment of an existing 11-storey commercial-office building. Works will include installing new cladding, constructing three new office floors and a new reception, lifts and plant.

The building is targeting environmental standards to achieve BREEAM Outstanding and the WELL Building Standard Platinum.

Work will begin in April 2021 and is scheduled to complete in the last quarter of 2022.

Skanska is one of the leading construction- and project development companies in Europe. Outside the Nordics, the company has operations in building construction and civil engineering in Poland, Czech Republic, Slovakia, Hungary, Romania and the UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania and Hungary, while residential development is active in Poland, Czech Republic and in the UK with the BoKlok concept. In 2020, Skanska had sales of SEK 26 billion and about 10,100 employees in its European operations outside the Nordics.