Lendlease has been picked for the first phase of a ¡ê500m development in Croydon.
Developer Stanhope and Schroder UK Real Estate Fund (SREF) have appointed Lendlease as the preferred contractor for the first of five office buildings at Ruskin Square, the partnership¡¯s ¡ê500m business, residential and leisure quarter next to East Croydon Station.
Work on the ¡ê40mm contract has now begun, with the creation of 200,000 sq ft of office accommodation and ground floor retail space. Completion is expected in autumn 2016.
The appointment builds on Lendlease¡¯s recent construction wins such as Legal & General¡¯s office building in Hammersmith and the Rathbone Place scheme just off Oxford Street.
The two million sq ft Ruskin Square development will provide 1.25 million sq ft of office space, up to 625 residential units and 100,000 sq ft of shops, cafes, restaurants and public space. Work on the first residential phase at Ruskin Square began in July 2014, with Places for People appointed to build and manage the construction of 161 homes, to be completed in 2016.
Neil Martin, Lendlease managing director for construction, said: ¡°We are looking forward to working with Stanhope and Schroders on this pivotal development in a part of South London that is set to undergo a remarkable transformation over the next few years. Adding to our high-profile portfolio of major London construction jobs, the contract is testament to the strong relationships we have with our clients and our expertise in building mixed-use regeneration schemes.¡±
Stanhope development director Jason Margrave said: ¡°The appointment of Lendlease is a key milestone as we now commence the first office building at Ruskin Square. Lendlease will unlock a key part of the scheme and our vision to develop an attractive and vibrant commercial and leisure destination situated prominently within Croydon¡¯s rising central business district.¡±