Work is due for completion in 2029 and will create around 270,000 sq ft of high-quality office accommodation across 23 storeys, alongside retail space and public realm at ground level.

The former Landsec scheme had been on hold but private equity real estate firm AshbyCapital is taking the project forward with Landsec retaining a role as development manager.

Skanska’s role extends beyond the core build elements, with teams also delivering the full mechanical, electrical and public health systems installation, as well as Cat A office fit-out works.

Skanska will also carry out a refurbishment of the Grade II-listed Bishopsgate Victorian Bath House and deliver the refurbishment of 65 Old Broad Street, a five-storey building adjacent to 55 Old Broad Street.

Lee Marks, Executive Vice President at Skanska, said: “55 Old Broad Street is in a prime City of London location, just a stone’s throw from Liverpool Street Station. This development will create high-quality, future-ready workspace in an exceptionally well-connected commercial district.

“We are proud to be partnering with AshbyCapital and bringing Skanska’s specialist expertise to a scheme of this scale and significance.”
Tom Smithers, Property Director of AshbyCapital, added: “Securing Skanska as our construction partner is an important milestone for 55 Old Broad Street and reflects our shared ambition to deliver a best-in-class workplace in the heart of the City.

“This scheme will create high-quality, sustainable space that meets the evolving needs of occupiers, while enhancing the wider public realm and bringing new energy to this part of London.

“At AshbyCapital, we focus on delivering design-led buildings that combine strong environmental performance with outstanding amenity, and we look forward to working closely with Skanska and Landsec to bring forward 55 Old Broad Street.”