Key facts
- Sir Robert McAlpine will refurbish the Bank of England's Grade I-listed Threadneedle Street headquarters.
- The contract value is £133 million, excluding VAT, rising to £159.6 million including VAT.
- The refurbishment will involve replacing core building infrastructure and refurbishing ground floor, auditorium, workplace floors, and basement areas.
Sir Robert McAlpine has been awarded a £133 million contract to refurbish the Bank of England's historic Grade I-listed headquarters at Threadneedle Street in London. The award notice was published on October 26, 2026. The refurbishment programme, which is expected to run until November 2030, will focus on replacing core building infrastructure and updating various areas including the ground floor, auditorium, workplace floors, and basement. The contract value excludes VAT, amounting to £159.6 million with VAT included. The Bank of England retains the option to extend the agreement by up to 12 months. Overbury and Bovis Construction (Europe) were the unsuccessful finalists for the main works contract.