Property and infrastructure group Lend Lease has secured a £170m contract from Land Securities to construct two new buildings at the site of the former Kingsgate House in central London.
The two buildings, the Zig Zag Building and Kings Gate, are part of Land Securities’ plans to redevelop Kingsgate House on Victoria Street.
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The Zig Zag Building will be a 190,000ft² commercial and retail block spanning across 12 floors, while Kings Gate will be a 14-storey residential building featuring arond 100 apartments upon completion.
Under the deal, Lend Lease’s project management and construction business will demolish the existing office block and replace it with two buildings designed by UK-based Lynch Architects.
In November 2011, Land Securities received planning approval from Westminster City Council in the UK to redevelop Kingsgate House.
After completion, both buildings will provide 45,000ft² of retail space, new bars and restaurants in a public courtyard.
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By GlobalDataConstruction of the buildings is anticipated to be completed in 2015.
Lend Lease chief executive officer and managing director Steve McCann said the contract award shows continued momentum of the construction business in Europe, the Middle East and Africa (EMEA) region.
“It follows recent contract wins including the Treviso PFI hospital in Italy, the University of Strathclyde’s £89m Technology & Innovation Centre in Glasgow city centre and the £70m Cramlington hospital in Northumbria.”
In November 2012, Lend Lease secured planning permission from Southwark Council in the UK to construct a 37-storey residential tower as part of its £1.5bn regeneration of the Elephant and Castle area in south London.
Image: The Zig Zag Building and Kings Gate are expected to be completed in 2015. Photo: Land Securities Group.
