Swedish construction firm Skanska has secured a contract worth about SEK2bn ($241m) from British Land to construct a new office building in London, the UK.

The new office building, named as Blossom Street, which is targeting environmental standards to achieve BREEAM excellent.

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The scope of work under the contract includes construction of approximately 46,300m2 of commercial, retail, public realm and residential units.

Under the contract, Skanska will also be responsible for the installation of mechanical, electrical and public health services for the development.

Construction on the new office building is set to commence in early next year and is planned to be finished in 2023.

In a separate development, Skanska has agreed to sell a 95% stake in the 2+U office property in the US for about $669m.

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A South Korean financial group Hana Alternative Asset Management together with Hana Financial Group will acquire the majority interest in the office located in Seattle, Washington.

Upon completion of the acquisition, Hana will immediately commence operations of the 2+U development together with Hines asset management and property management.

The construction company will continue to be involved in the project and complete the ground plane and retail vision of the project.

The 703,000ft2 2+U development is a 38-storey office tower in Seattle’s Central Business District and includes a 2,200m2 open-air community hub on the ground floor.

The office tenants of the building include Qualtrics, Indeed.com, Dropbox Inc. and Spaces.

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Rendering of Blossom Street in London, UK. (Credit: Skanska.)