Balfour has already worked with Audley on projects in Birmingham and Bristol.
The contractor was appointed to develop a detailed design and pricing proposal for Cooper’s Hill in 2016 ahead of the award of the full construction contract for the scheme.
Balfour Beatty will be responsible for the delivery of 78 luxury retirement properties, a health club, swimming pool, restaurant and library.
Dean Banks, Managing Director for Balfour Beatty’s UK Construction Services business, said: “The award of this contract is another example of the importance of early contractor engagement.
“Our long-standing relationship with Audley has enabled us to work together to deliver a proposal that provides us with a solid foundation from which to excel in the build of this new development.
“With our teams already on site, we are primed and ready to start main construction works. On completion, we will have seen the scheme through from project outset to full realisation.”
Kevin Shaw, Managing Director at Audley, said: “The retirement village model is very different to that of traditional housebuilders; building the villages is the first step, but Audley then continues to operate and run those villages, so it is essential that we work with partners that understand this significant difference.
“We have a proven track record of successful projects with Balfour Beatty; they have always shown a real understanding of the Audley proposition and the need to meet the growing demand for high quality retirement properties.
“This is the natural next step in this partnership and we look forward to moving forward with the development of Audley Cooper’s Hill.”
Balfour Beatty is already on site carrying out a £3m enabling works package with main construction works due to commence this Autumn.