Skanska, the international property construction and development firm, has sold an office building in the City of London and started building a mix-use asset in operations totalling £245 mln (€277 mln).
Skanska has sold The Monument Building in the City of London for about £118 mln, to Credit Suisse’s Real Estate Fund International (REFI). The transfer of the property is scheduled for February 2018.
The 10-storey office building has a total leasable area of about 8,700 m2. The building was completed in 2016 and is multi let, with its office and retail floors occupied by a diverse group of tenants.
Separately, Skanska announced the signing of a contract with Partners Group Fenchurch to build 80 Fenchurch Street, a mixed-use commercial and retail development in the City of London. The contract is worth £127 mln.
80 Fenchurch Street will be a 14-storey building comprising 22,000 m2 of office accommodation and about 1,100 m2 of retail space. The scheme will target a BREEAM excellent rating in addition to a Wired Platinum Certification, which measures connectivity features to ensure the building will fit the digital needs of future tenants.
Construction will begin in spring 2018 and the development is due to complete in 2020.
Photo: The Monument Building, City of London
