Construction company Skanska has been awarded a £273m ($373m) contract to redevelop One Appold Street in Broadgate, London.

The contract has been awarded by Broadgate, a joint venture between British Land and GIC. It covers full construction as well as mechanical and electrical installation works.

The project involves retaining most of the original 1980s concrete and steel structure and adding six extra floors as well as expanding the building’s floorplate.

Once completed, the building will comprise 14 storeys, providing approximately 360,000ft2 of office accommodation and 48,000ft2 set aside for leisure and hospitality.

Skanska UK executive vice president Terry Muckian said: “Partnering with British Land for another major office in London is a privilege. Together, we have designed and delivered outstanding buildings that transform spaces and have enabled businesses to create exceptional working environments.

“The redevelopment of One Appold Street will further enrich Broadgate, delivering a modern, elegant building that complements the neighbourhood.”

Design plans include a new facade reflecting the style of other buildings in the Broadgate area. The redevelopment aims to meet high sustainability standards with targets such as NABERS 5–5.5 and BREEAM Outstanding.

In addition, Skanska’s own mechanical, electrical and public health specialists will carry out the installation of mechanical and electrical systems.

The approach limits carbon emissions by avoiding demolition and reusing the existing structural frame.

Project director Tony Boorer said: “We’ve worked closely with our customer to design a building with sustainability embedded in its DNA.

“By structurally refurbishing the building, the existing concrete and steel frame will be largely retained, avoiding the high carbon impact of demolition and in fabricating new steel. We’re excited to move into full delivery and look forward to seeing the project develop.”

Work has commenced on site, with completion expected in the first quarter of 2029.