The office scheme is being developed by Skanska’s development arm. Skanska purchased the site in 2012.
The scheme, designed by architect Ken Shuttleworth’s Make as part of M&E Consultants, was granted planning consent in April 2013 and is scheduled for completion by the end of 2015.
Following the go-ahead for the project, the works on The Monument Building, located at the centre of the city, will begin immediately.
The construction of the new building will include the replacement of the existing buildings at 11-15 Monument Street, 46 Fish Street Hill and 1-2 Pudding Hill with around 85,000sqft (8,000sqm) of office space over nine floors, with floor areas of about 10,000sqft (1,000sqm), plus 3,000sqft (460sqm) of ground-floor for retail shops. Skanska will reuse the basement retaining walls of the existing buildings to reduce the amount of concrete used.
The Monument Building is expected to achieve a BREEAM ‘Excellent’ rating. Amongst its features are LED lighting, showers, cycle parking and a roof terrace with photovoltaic panels.
Skanska UK will occupy around half of the 85,000 sq ft office space and the rest will be let to occupiers looking for offices upwards of 10,000 sq ft in the centre of London.
Neal Pickering, development director at Skanska Project Development, said: "This is the second office development project that Skanska has invested in during the last three months. We are particularly excited to be bringing Skanska's experience to the development of energy-efficient buildings in the City of London.
"We believe The Monument Building will set new occupational standards in terms of design and sustainability within the Square Mile," he added.
Photo: Construction Enquirer