Skanska’s contract involves stripping back the existing building at 207 Old Street to its original frame and adding three new floors. It will deliver 16,000 m2 of office space and 700 m2 for retail use at ground level. New washrooms and two extra elevators will also be installed.
The building is part of a larger development called The Bower that Helical bought for £250m in 2015.
Work has now started on site and is expected to be complete in June 2018.
Helical senior development executive Pavlos Clifton said: “Following the successful completion in November by Skanska of One Creechurch Place, London EC3, on time and in budget, we are pleased to be working together again and look forward to a similar high quality of delivery.”
Skanska managing director Steve Holbrook said: “It’s great to be working with Helical plc on another scheme. At Old Street, we’ll be able to showcase our wider expertise in sustainable refurbishment work and mixed-use developments, helping to redefine the building and create a modern workplace in this thriving part of London.”