INDUSTRY NEWS

Skanska given go-ahead for new City of London office building

Swedish-based construction company Skanska has been granted planning permission to start construction on a new nine-storey London office.

Favourably located at the heart of the City of London, 11-19 Monument Street will replace an existing property – which will be demolished in the coming months. It will also stand next to the Monument to the Great Fire of London – simply known by most as the Monument.

Designed by Make Architects – formed by respected British architect Ken Shuttleworth back in 2004 – the property will provide approximately 85,000 sq ft of office space, completed to a grade A standard.

In addition to this, 11-19 Monument Street will also provide a further 3,000 sq ft of space for retail amenities.

Commenting on the announcement, Neal Pickering, of Skanska Project Development, stated: “The site was acquired last year with the intention of delivering 85,000 sq ft of grade A offices.

“Around 40,000 sq ft of the office space is being occupied by Skanska UK and the remainder of the space being let to occupiers looking for offices upwards of 10,000 sq ft in a prime city location,” Mr Pickering added.

Skanska, which has previously overseen the construction of a number of high-profile office buildings – such as 30 St Mary Axe – will begin construction work on the project later this summer (2013).

Expected to cost around £20 million, the project is currently scheduled for completion by 2015.

News bought to you from DeVono Cresa, the award-winning commercial property advisers, specialising in Central London office, retail and leisure space.