When complete, the new 14-storey development, designed by architects Grimshaw, will provide 560,000 sq ft, of office and retail accommodation.

Completion is scheduled for 2010.

St Botolphs is the second of two schemes that Skanska are currently constructing for Minerva, following the award of The Walbrook, also in the City of London, in the Summer of 2007. Skanska also successfully completed the 90 High Holborn project for Minerva in 2003 as well as the redevelopment of the company's own headquarters on Wigmore Street in 2002.

Dave Shadwell, senior vice president of Skanska's Construction Private Operating Unit said: "St Botolphs is a very exciting scheme and we are delighted to be involved in its development alongside Minerva. We have an excellent long term relationship with the company and we are looking forward to delivering another stunning development for them".

Tim Garnham, Minerva's group development director said: "We are delighted that Skanska will be working with us on St Botolphs. With a construction contract now signed, a significant pre-let agreed and funding in place, we look forward to delivering the St Botolphs development into the market on schedule in 2010."

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