Skanska divests 51 Moorgate in London, UK, for about GBP 56 M, about SEK 690 M

Skanska has divested the 51 Moorgate office and retail property to a real estate fund of Deka Immobilien for about GBP 56 M, about SEK 690 M. The transaction will be recorded in the Commercial Property Development stream in the fourth quarter 2019. The transfer is also expected to occur in the fourth quarter 2019.

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The nine-storey headquarters building that was developed and built by Skanska UK totals approximately 4,300 square meters (46,500 square feet) and combines office and retail space in the City of London. The building is let in its entirety to Skanska UK on a new 15-year lease.  

Designed to the highest environmental standards the property is set to achieve a BREEAM Excellent rating and WELL certification. The building incorporates sustainable materials and a contemporary façade, designed to maximize natural light.

Construction of 51 Moorgate began in the first quarter of 2018 and was completed in the third quarter of 2019.

Skanska is one of the leading development and construction companies in Europe. Outside the Nordics, the company has European operations in building construction and civil engineering in Poland, Czech Republic & Slovakia and UK. Skanska develops commercial properties in select home markets in Poland, Czech Republic, Romania and Hungary, while the residential development is active in Prague and Warsaw. In 2018, Skanska had sales of SEK 36 billion and about 14,200 employees in its European operations.