Derwent calls up firms for £260m Crossrail overstation job

Aaron Morby 2 months ago

London developer Derwent is pressing ahead with plans for a major mixed-use development above the Tottenham Court Road Crossrail station in central London.

Landmark scheme at the eastern end of Oxford Street will consist of offices, shops and a 350-seat theatre

The firm has started talks with contractors for the £260m project at Soho Place with the aim of starting work in the second half of next year.

It is now progressing detailed designs and engaging with potential contractors for the 285,000 sq ft mixed-use scheme above the key Elizabeth Line station.


The AHMM designed landmark development will comprise 204,000 sq ft offices, 37,000 sq ft retail and a 34,000 sq ft 350-seat theatre.

It is understood that Laing O’Rourke had been favourite to take the job but now is unlikely to be in the frame.

Presently the contractor is delivering the £116m contract for the Brunel building in Paddington, one of Derwent’s other two major building projects in London. Multiplex is working on its other major office scheme, the revamp of the former Saatchi building at 80 Charlotte Street in Fitzrovia.

John Burns, Chief Executive Officer, revealed the developer had sanctioned spending on the project, as Derwent revealed strong first-half results.

Derwent, which was of the first developers to reveal plans to advance two major London schemes post-Brexit, is also planning two further major west London projects totalling 433,000 sq ft.

Burns said: “We expect to be granted access to our Soho Place W1 site later this year and this would enable us to carry out further preliminary work with the intention of starting construction in H2 2018.

“The development is on one of the most strategic sites in the West End,” he said.

“We have also advanced two additional schemes by applying for planning permission at 19-35 Baker Street W1 and Holden House, 54-68 Oxford Street W1. 

“These latter two schemes are unlikely to start before 2020, and our Baker Street project is a 55% interest held in a joint venture with our partner, The Portman Estate.”

Latest news

Interserve likely to breach banking covenants

Interserve in talks with banks as rising cost of exiting energy from waste prompts another profit warning
14 hours ago

Aarsleff MD exits in management shake-up

Danish parent company to refocus UK business
10 hours ago

Betting Spy: West Ham can shock Spurs in the cup

Price is too big on visitors who could face a Tottenham second string
17 mins ago

Lagan on the hunt for new North West suppliers

Open day next week to highlight work opportunities: Register now
5 hours ago

Hinkley chief buyer joins Murphy

Laing O'Rourke procurement head Ian Holcroft joins rival contractor
1 day ago

Marshalls expands in drainage market with CPM acquisition

Building products giant buys concrete pipe specialist for £38m
14 hours ago

Lovell poaches Quintain director for London MD role

Ben Giddens joins as London regional managing director
22 hours ago

Amey highways drivers wear anti-dozing collars

Contractor trials range of wearable technology to make workplaces safer
14 hours ago

Skanska schools director joins Wates

Martin Kramer joins Wates as Home Counties pre-construction director
1 day ago

Clugston to start £13m Leeds College of Building job

Phase 2 of Hunslet Campus in Leeds gets underway
21 hours ago

Architect trio advance £200m Gateshead Quay plan

Plan for conference and exhibition centre to be submitted by the end of next year
1 day ago

O’Rourke firms fined £3.8m after concrete factory death

Court hears how worker was crushed by 11 tonne concrete panel

Lendlease profit rebounds despite Scottish problems

UK construction business returns to strong profit
2 days ago

McAlpine to start HMRC office at Cardiff central square

Work to start on fourth major office build at £400m city centre regen scheme
2 days ago

Prime Minister summons house builders to strategy meeting

Theresa May looks to boost construction levels
2 days ago

Muse leads £75m Dartford town regen scheme

Work to start in spring 2019 on Westgate mixed-use scheme
2 days ago

BAM submits £32m Jedburgh campus plan

Work to start in spring on borders all-through school campus
2 days ago

Trio picked for Midlands multi-storey parking plan

Bourne Parking, Blackwells and Dawnus in line for multi-storey park and ride programme
2 days ago

Multiplex staff let go as sites run down

Site office teams broken up as schemes nearing completion
3 days ago

Bouygues set for £300m Cavendish physics lab

Cambridge University awards first contract under new framework
3 days ago

Murphy to install 60km underground power cable

Contractor to smash UK record for horizontal drilling
3 days ago

McMullen lands £11m cladding package from O’Rourke

Specialist to start on site in April at Liverpool cancer hospital
3 days ago

Bellway delivers 11% rise in home completions

Bellway plans to open new division in the north as demand surges
3 days ago

Mace seeks to boost transport consultancy

Mace makes two senior appointments to drive airport and highways work
3 days ago

Lidl to build its largest UK warehouse in Peterborough

New £80m warehouse is discount giant's 6th to be announced this year
3 days ago

Concrete problems hit Hinkley Point tunnels

Material needs to be replaced after failing quality checks at nuclear plant
4 days ago

Interserve lenders call in advisers amid cash crunch fears

Interserve says work underway to give greater clarity on current trading and provisions
4 days ago

Balfour/Mott seals £115m area 10 road upkeep extension

Highways England opts to extend Area 10 assets support contract
3 days ago

Morgan Sindall nets £16m fisheries HQ

Existing Cefas buildings in Lowestoft will be refurbished before new office is built
4 days ago

Construction growth to stagnate next year

Construction faces recession if promised infrastructure spend delayed
4 days ago

Contractor services