Land Securities is planning a 379,000 sq ft speculative mixed-use development at 1 & 2 New Ludgate, London EC4. It has appointed Skanska Construction UK as its main contractor. Skanska's design and build contract is worth £109m. Demolition work at the site is already completed.
The scheme occupies an island site close to St Paul’s Cathedral. It comprises two distinct buildings connected by a new public piazza. Completion is scheduled for April 2015.
Land Securities has decided to push on with the scheme despite also, just last month, committing to the next phase of its £2.2bn redevelopment of Victoria in London’s West End.
Colette O’Shea, head of development for London said: “Our decision to commence the speculative development of 1 & 2 New Ludgate reflects our confidence both in the City office market, where we believe supply of new space will be constrained in 2015, and in the quality of the attractive and highly efficient office space we are creating.
“1 & 2 New Ludgate, designed by architects Fletcher Priest and Sauerbruch Hutton, will be a striking, flexible and contemporary addition to one of London’s most historic locations with appeal to a wide range of occupiers seeking space in central London.”