The £28m construction job will get underway right away and is timetabled to finish in Autumn 2014.

Skanska beat rivals Sir Robert McAlpine, Galliford Try and Wates to take the 10-floor, Grade A office development located between the Bank of England and St Paul’s.

Tristram Gethin, managing director and founding Partner of Quadrant Estates, said: “We are right on track with the development of 100 Cheapside, which will occupy a prime site in the heart of the City. It is one of the last pieces of Cheapside to be redeveloped.”

Paul Heather, managing director, Building – London and South East, Skanska said: “Winning this project in such competitive market conditions is a true testament to our commitment to a more sustainable future and our client’s confidence that they can use our knowledge and skills to achieve a building which meets the high environmental standards of today and for years to come.”