Skanska UK's combined expertise secures second Development Securities contract

Press release 21/04/2008 00:00 CET

Development Securities has today awarded Skanska UK a contract worth around £88 million to construct Two Kingdom Street at PaddingtonCentral. This latest project will be the second building Skanska has constructed for Development Securities and follows the successful completion of One Kingdom Street in February.

Two Kingdom Street is funded by Morley Fund Management and Quinlan Private.

Work on this latest award begins immediately, and involves the construction of a 13-storey state of the art building, comprising 46,200 square metres (Gross External Area). Two Kingdom Street, has been designed around a grand multi-level atrium with ten floors of flexible office space and two below-podium floors of Studio workspace for business starter units.

To undertake this project, Skanska has again put together a team, which draws upon the expertise of its building, mechanical and electrical, ground engineering and specialist Operating Units.

Creating this ¡§Skanska team¡¨, has meant that Skanska has been able to offer Development Securities a unique approach, which meets technical requirements but which also draws on previous Skanska landmark building experience to provide a solution that will deliver a sustainable building which is sympathetic to its surroundings.

Two Kingdom Street, PaddingtonCentral is scheduled for completion in January 2010.

David Fison, Chief Executive of Skanska UK said: "Successful projects come from successful teams. To create successful teams you need compatible cultures, early engagement to address the issues and plan the job and continuity of work to keep the teams together. One Kingdom Street was a great example of a successful project. Two Kingdom Street will be even better.¡¨

Julian Barwick, Director, Development Securities said: "Skanska has done an excellent job at One Kingdom Street, finishing on time and budget, and we are now inviting them to give a repeat performance. They are a great team and I look forward to this building's successful completion in early 2010."

Two Kingdom Street - Key Facts:

„X State-of-the-art building including ten floors of office space.
„X Six semi-scenic passenger lifts.
„X Office space sits in part above a two storey studio workspace for business starter units.
„X Four Skanska Operating Units form the team to undertake the construction of Two Kingdom Street
„X Construction Private Sector
„X Mechanical & Electrical services
„X Piling & Foundations
„X Ceilings & Plasterwork
„X General construction comprises a concrete frame incorporating post tensioned concrete slabs.
„X A number of sustainable measures are being adopted throughout the construction phase in regards to energy, water usage and waste management. Key Performance Indicators (KPI's) will be used to monitor continual improvement of environmental performance on site.
„X Solar panels will be installed to contribute to the building¡¦s domestic hot water services.
„X External cladding is principally glazed curtain wall incorporating solar control glass and some elements of shading.
„X The project is to be completed to Cat A specification with the Reception and Lavatories being fully fitted out.
„X The Reception area will feature stone composite flooring, bespoke panel wall linings and specialist lighting as well as a bespoke water feature in the atrium.
„X Elements of the building are being prefabricated off-site, for example M&E services, toilet finishes and cladding units, which has enabled on-site construction periods to be reduced.
„X The lavatory fit-out will utilise off-site unitised construction and features tiled floors, glass and tiled walls with veneered doors.