Land Securities has awarded Balfour Beatty a £70 million contract for the Buchanan Street mixed use project in Glasgow, Construction News can reveal.
The contractor will design and build the retail and residential project in the heart of the city centre.
The 155,000 sq ft 185-221 Buchanan Street development is only the second major city centre retail development to go ahead since the financial downturn.
It is estimated that, at peak, over 100 construction workers will be on site.
The scheme is already over 68 per cent pre let by income and 75 per cent by space.
The shops, cafés and restaurants are due to open by March 2013, well ahead of the Commonwealth Games in 2014.
The 49 apartments due to be built as part of the scheme will be completed by autumn 2012.
Land Securities retail development director Nick Davis said: “We are pleased to appoint Balfour Beatty as the lead contractor, given their strong track record of delivering high quality, complex projects in busy city centres.
Balfour Beatty divisional managing director for Scotland Tim Clarke said “The award will add a new dimension to our retail experience.
“We are committed to locally employing new apprentices and a significant number of new entrants to the construction industry. Balfour Beatty will actively use the 2014 Glasgow City Council portal for all local procurement.”