Job first of several high-profile London projects set to be awarded in next few weeks
Multiplex has won the next phase of Derwent’s Baker Street office-led scheme in London’s Marylebone area.
The firm has signed a PCSA for the job at 50 Baker Street, worth around £150m, having pipped Skanska to the work. A pitch from Mace was tailed off earlier in the process.
The job comprises three buildings – 38-52, 54-60 and 66-70 Baker Street – which Derwent bought four years ago totalling 122,300sq ft.
The new build scheme has been rebranded 50 Baker Street with Derwent buying up the 50% stake held by then joint venture partner, Lazari Investments, at the end of last year for £44m.
Under the new plans, the site will be expanded to 240,000sq ft with a resolution to grant planning agreed with Westminster council last summer.
Designed by AHMM, the architect said the project will “deliver best-in-class office space suitable for a range of tenants, addressing the substantial historic deficit in office space within Westminster”. As well as office space, the job includes retail as well as a small residential block of 17 properties.
Derwent has said it expects redevelopment work to begin in the first half of next year with others working on the job including project manager Gardiner & Theobald, cost consultant Core Five, structures consultant Buro Happold and Cundall on services.
Multiplex has previously worked for Derwent on its 80 Charlotte Street and White Collar Factory schemes but those were completed several years ago.
Laing O’Rourke is wrapping up the first part of Derwent’s Baker Street redevelopment, a mixed-use scheme at 25 Baker Street while Kier is due to finish the developer’s Network building job at Tottenham Court Road by the end of the year.
Derwent also recently appointed Kier to a £100m scheme to redevelop a grade II-listed building on London’s Oxford Street.
The 50 Baker Street scheme is the first of several high-profile jobs set to be awarded in the next few weeks.
Mace is up against Multiplex for the £200m Edge Liverpool Street job – previously called Edge Shoreditch – with Mace thought to be favourite for the work. And the £600m-plus British Library scheme, being bid by Sir Robert McAlpine, Mace and Multiplex, is also due to be awarded soon with McAlpine understood to be the frontrunner.
Meanwhile, Ȧ understands a decision on the winner of 18 Blackfriars, now called the Round, might now not be made until next month with Multiplex up against a pairing of Bovis and McLaren – which recently confirmed it was carrying out a £90m overhaul of Brettenham House at the north end of Waterloo Bridge for Helical.
The 18 Blackfriars job is worth £1bn and involves three towers, one office and two residential, designed by Foster & Partners. Developer on the scheme is US firm Hines which is looking for a new recruit to carry out the day-to-day running of the job when it eventually begins.
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