Skanska will build YY London, 30 South Colonnade, a new commercial office in Canary Wharf, London.
Skanska said it has signed a contract, worth £135 million, with Quadrant and funds managed by Oaktree Capital Management.
30 South Colonnade was acquired off market in May 2019 in a joint venture with Oaktree.
Skanska will carry out the structural refurbishment of an existing 11-storey commercial office building in London. Works will include installing new cladding, constructing three new office floors and a new reception, lifts and plant.
The building is targeting environmental standards to achieve BREEAM Outstanding and the WELL Building Standard Platinum.
Work will begin in April 2021 and is scheduled to complete in the last quarter of 2022.
Last week Skanska had signed a contract, worth £83 million, with Royal London Asset Management to build The Earnshaw Building in London, UK.