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Multiplex signs 22 Bishopsgate tower contract with Lipton Rogers

Lipton Rogers has finalised the appointment of Multiplex on its 22 Bishopsgate scheme, after weeks of uncertainty following the EU referendum.

Peter Rogers confirmed to Construction News that the developer had signed the main build contract with the contractor, which is worth between £500m-600m.

Multiplex has been working on site under a PCSA.

The news follows Axa Investment Managers’ decision to proceed with the project this week.

Its chief executive Pierre Vaquier had previously said he would await the outcome of the vote before deciding on whether to go ahead with the tower.

The other investors backing the scheme include Singaporean Temasek Holdings Pte, Canada-based Public Sector Pension Investment Board, and British Columbia Investment Management Corp.

Mr Vaquier said: “Our ongoing commitment to 22 Bishopsgate reflects our firm belief, and that of our clients and partners, in this development project, aligned to the fact we are taking a long-term view of this investment.

“The decision to proceed underscores our confidence in the progressive and attractive development that we will deliver at 22, coupled with the anticipated breadth of demand from local and global occupiers for easily accessible space in a prime location in the City of London, as one of the leading global centres for international business, that will respond to their future business needs.”

Construction News reported last week that Severfield had replaced William Hare as steelwork contractor on the scheme, where Careys is currently building the concrete core.

The foundations and groundworks are largely complete, and Axa said this would allow for an “accelerated construction timetable” as it targets a completion date of 2019.

The 22 Bishopsgate design replaced the previous Pinnacle scheme, for which construction began in 2008 before being suspended in 2012 due to the economic downturn.

The new designs include a 278 m-tall tower – 10 m lower than the previously approved scheme – with 130,000 sq m of office space. The high-rise office will also feature a restaurant and bar, retail space and a public viewing gallery.

Multiplex declined to comment.

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