Skanska has lined up its next City of London development opportunity with the off-market acquisition of 51 Moorgate, EC2, from Corpus Sireo.
The Swedish contracting giant, now increasingly active in commercial development, paid around £17m for the 45,000 sq ft office block.
The building is let on a short lease and has the potential for a substantial refurbishment once vacant possession is achieved at the end of this year.
It will be Skanska’s second City development, following on from the Monument Building, EC3, a 94,000 sq ft office scheme which is currently under construction.
The company is also developing a 61,000 sq ft office at 66 Queen Square in Bristol (pictured), which it is selling to Aviva following a prelet of the majority of the space to accountancy firm KPMG.
Neal Pickering, development director at Skanska UK, said: “This is a strategic purchase for us, as we continue to build our portfolio in the UK. We are actively looking for further development opportunities in London and Bristol.”
Savills advised Skanska; Corpus Sireo was not represented.
