Carillion is reported as having been selected by developer Helical Bar to deliver a £165M primarily residential mixed use project in West Smithfield, London.
This 3.2 acre Barts Square scheme will involve redevelopment of 19 buildings to provide a total of 215 residential apartments and two office buildings of 202,000 sq ft and 23,500 sq ft.
21,800 sq ft of ground floor retail/restaurant space will also be provided in addition to major public realm improvements.
Planning permission is already in place for the project, with phase one – which will deliver 144 residential units – expected to get under way soon. Phase two will include the 202,000 sq ft office building and 121 further apartments.
The Barts Square scheme is being developed by Helical Bar in joint venture (JV) with The Baupost Group. The JV owns the freehold interest in land and buildings at Bartholomew Close, Little Britain and Montague Street, a site adjacent to the new Barts Hospital and just south of Smithfield Market.
Current buildings at the site comprise 420,000 sq ft, let to the NHS on a number of short term leases that expire between 2014 and 2016. The JV has obtained vacant possession on all buildings which will make up phase one of the redevelopment.
Elsewhere in London, Carillion is expected to start work this year on three new buildings – one commercial and two residential – as part of Argent’s King’s Cross regeneration project after it was awarded a design and build contract in December.
Neither Carillion or Helical Bar were able to comment as we went to press.