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Balfour Beatty secures £150m Madison Tower

Balfour Beatty confirmed its £150m main contract award for the 53-storey Madison Tower in east London.

The contractor will build the 187 m-high residential tower near Canary Wharf for developer LBS Properties.

Balfour Beatty was handed the £1m preconstruction services deal for the Marsh Wall scheme in January 2016.

Designed by Make Architects, Madison Tower will house 423 high-spec homes ranging from studios to three-bed units. This will include 104 affordable homes.

Residents’ facilities will include a lounge, a gym, a swimming pool and 24-hour concierge.

All the homes will meet Lifetime Homes’ standards and Code for Sustainable Homes Level 4.

Piling works are under way, with the entire project due for completion in 2020. The development is more than 35 per cent sold.

LBS Properties director Nick Crawford said: “Balfour Beatty has impressed us since the initial preconstruction services contract was awarded and we now look forward to working together to see the project through to completion.”

Hoare Lea is working as M&E consultant on the scheme, with Core Five as construction cost consultants and WSP as structural engineers.

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