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Mace lined up for Finsbury Tower redevelopment

Mace is set to be named main contractor for a multi-million-pound tower redevelopment in central London.

The contractor is currently working as preconstruction contractor on the Finsbury Tower project.

Developer CIT told Construction News: “Mace is assisting CIT with the preconstruction phase with the view of a long-term partnership.” 

The client also revealed J Coffey had landed the enabling works deal, which will include demolition and structural work.

The developer has now agreed a financing deal with real estate investors Brookfield and Apollo Commercial Real Estate for redeveloping the tower, which is located near Old Street roundabout.

The project will see 12 floors added to the existing 16-storey structure on the site, as well as a three-storey extension to an adjoining podium building.

When completed, the tower will be 29 storeys with 310,000 sq ft of retail, residential and office space.

The scheme will also deliver 20,000 sq ft of revamped public realm, including new pedestrian routes as well as retail and restaurant units.

Initial work has begun on the project, with practical completion expected in the third quarter of 2021.

The value of the redevelopment has not been disclosed.

CIT chief operating officer Craig Johnston: “This scheme will deliver highly sought-after office space, alongside new retail and improved public realm in the capital’s tech district between Old Street and the City Fringe.”

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