Multiplex has secured the principal construction contract, valued at over £250m ($338m), for the redevelopment of 75 London Wall in the City of London.
The agreement involves Malaysian property firm Gamuda Berhad and UK-based real estate investor Castleforge.
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Gamuda Land UK head Niall Farmer said: “This contract marks a significant milestone in Gamuda Land’s continued expansion in the United Kingdom and in our strategy to unlock long term value from prime City of London assets.
“75 London Wall represents a rare opportunity to reposition an existing building of scale into more than 450,000ft² of future-ready, Grade A workspace, at a time when supply of top tier, highly sustainable offices in the City remains structurally constrained.”
The milestone enables main construction works to begin on the £1.2bn project, following a period of enabling and demolition activities overseen by Erith Group.
The redevelopment is scheduled for practical completion in the first quarter of 2028.
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By GlobalDataPlans for the site include an expansion of capacity by more than 50% and the provision of over 450,000ft² of office space.
Orms is responsible for the design, with targets set for BREEAM Outstanding, WELL Core Platinum and NABERS UK 5* Design for Performance sustainability certifications.
Castleforge founding partner Michael Kovacs said: “At a time when London is experiencing its lowest level of office construction starts in almost two decades, delivering 75 London Wall to practical completion in Q1 2028 will provide the market with much-needed, best-in-class workspace at precisely the moment when supply constraints are most acute.”
Multiplex previously operated under a pre-construction services agreement with Gamuda and Castleforge throughout the past year, focusing on project planning and design.
Multiplex Global managing director Callum Tuckett said: “75 London Wall represents the future of sustainable commercial development, and we look forward to bringing our global expertise in complex urban construction to create a building that sets a new standard for the City.
“Our work with the project team over the past year has positioned us perfectly to hit the ground running and deliver this scheme to the highest standards.”
