Skanska has secured a £282 million contract from AshbyCapital to deliver 55 Old Broad Street, a major new office development in the heart of the City of London.

The project will provide around 270,000 sq ft of Grade A office space across 23 storeys, alongside ground-floor retail and new public realm. The scheme aims to establish a best-in-class office address in the Square Mile, close to key commercial, financial and cultural destinations.

Designed for modern occupiers, the development is targeting leading sustainability ratings, including BREEAM Outstanding and NABERS 5*.

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AshbyCapital is advancing the landmark commercial scheme, with Landsec acting as development manager, following the award of planning consent in 2023.

Work is scheduled to begin in October 2026, with completion expected in late 2029. Beyond the core construction, Skanska’s scope includes full mechanical, electrical and public health systems and Cat A office fit-out, drawing on the contractor’s expertise in both major builds and high-quality workplace delivery.

Skanska will also undertake a sensitive refurbishment of the Grade II-listed Bishopsgate Victorian Bath House and refurbish 65 Old Broad Street, a five-storey building adjacent to the main development.

Lee Marks, Executive Vice President at Skanska, said: "55 Old Broad Street is in a prime City of London location, just a stone’s throw from Liverpool Street Station. This development will create high-quality, future-ready workspace in an exceptionally well-connected commercial district. We are proud to be partnering with AshbyCapital and bringing Skanska's specialist expertise to a scheme of this scale and significance."