Balfour Beatty has won the contract to deliver a luxury residential project in London’s Mayfair.
Property investment firm Brockton Capital selected the contractor to deliver a scheme comprising 32 luxury apartments at 60 Curzon Street.
Work has started at the site and is scheduled for completion in 2020.
Balfour Beatty chief executive for UK construction services Dean Banks said the deal added to the firm’s portfolio of high-end residential projects in the capital, citing its delivery of the £130m No.1 Palace Street scheme in St James’ Park.
The development on Curzon Street has been in wings since November 2012 when Brockton first submitted a planning application for the site.
Brockton later sold a 70 per cent stake in the scheme to two Chinese investors in December 2015, which valued the site at £200m, according to EGI.
Developer Derwent announced last week that it was planning to invest almost £700m in high-end projects in London over the next four years.