Skanska beat-off fierce competition from Mace for the job and will now start on site before the end of July.

The building at the junction of Lime Street and Leadenhall Street is scheduled for completion in early 2017.

The Scalpel has been designed by Kohn Pedersen Fox for insurance giant W.R. Berkley Corporation.

The 190metre-tall commercial office development has an internal floor area of 624,000 sq ft over 35 floors and two basement levels, including retail and restaurant areas.

A public square’of approximately 11,000 sq ft will be created by the development, complementing the existing space around the Willis Building.

Paul Heather, Managing Director at Skanska, said: “We are thrilled to be adding 52 Lime Street to our portfolio of City towers and forming a new relationship with the W.R. Berkley Corporation to provide the company with a European home in the heart of the City.”