Mace Group has secured the contract to build one of Europe’s tallest mixed-use developments, the Shard at London Bridge Quarter.
It agreed the contract with Irvine Sellar’s Sellar Property, which is development manager as well as 20% owner of the project. The contract only covers construction of the Shard and the terms and agreed costs have not been revealed.
The Shard forms the first phase of the £2bn Renzo Piano-designed London Bridge Quarter regeneration project, which also includes redevelopment of the London Bridge Station concourse and development of London Bridge Place, a 17- storey corporate headquarters.
The London Bridge Quarter comprises 2m sq ft of office, hotel, residential, retail and leisure accommodation. Site demolition has been completed and test piling is currently underway.
Sellar Property said today that the necessary due diligence had been concluded and works were proceeding with Mace on site. It is expected that building work will begin in early March and will be completed in spring 2012.
There will be a separate construction contract for the adjoining London Bridge Place, comprising approximately 610,000 sq ft of office space. Demolition of the site’s existing building, New London Bridge House is expected to get under way in March with construction beginning towards the end of 2009. Completion is expected during the third quarter of 2012.
Salah Mohamad Jaidah, chairman of the London Bridge Quarter (LBQ) consortium, said: ‘We are very pleased to have reached the stage where everybody has the confidence to move this project forward in such a strong manner. The investors in LBQ have great confidence that The Shard will be completed on schedule in what are very difficult economic conditions.
Most of the development finance is being provided by Qatari Diar Real Estate Company.