Swedish developer Skanska has signed a contract to build a 35-storey office tower in the City of London for £198 mln (€250 mln) on behalf of US insurance firm W.R Berkley.
Swedish developer Skanska has signed a contract to build a 35-storey office tower in the City of London for £198 mln (€250 mln) on behalf of US insurance firm W.R Berkley.
The tower at 52 Lime Street is one of the largest building contracts in London for several years. It will provide around 37,000 m2 of office space and is due to be completed in 2017.
The 190-metre tower has been designed by architect firm Kohn Pedersen Fox has already been nicknamed the Scalpel because of its angular design. Global insurance company W.R. Berkley is to use up to 25% of the office space for its new European headquarters.
Skanska has signed a contract with WRBC Development UK to build the property, in partnership with New York-based Property Group Partners.
The Swedish company will be responsible for construction, mechanical and electrical engineering, and installation of services.
Skanska UK employs around 5,000 people and reported revenues of around SEK 13 bn (€1.4 bn) in 2013. The Skanska group as a whole reported total sales of €14.6 bn.