The contract for Redrow London will see the construction of 41 luxury private apartments and nine affordable and shared apartments at the prestigious 205 Holland Park Avenue address.

Demolition works on the existing property are almost complete and Shepherd is preparing the site for an imminent start on the main build.

The development will be a mixed-use scheme of five linked pavilions, rising from four to ten storeys.

Mark Tant, Shepherd Construction’s regional managing director, said: “This is a significant win for us.

“This contract further cements our position at the forefront of the residential construction market, helping our clients to realise their investment and vision.

“It is the latest in a string of substantial residential and mixed use contract wins for Shepherd Construction over the last nine months, including the £64m development of Capitol Way, Colindale, and the £43m transformation of Spring Mews, Vauxhall.

“The London luxury housing market has not only avoided the economic downturn but has thrived; year on year high-end housing accounts for four to five per cent of construction in the city.”

Ross Hammond, Production Director, Redrow London, said: “This contract is an important milestone for 205 Holland Park Avenue and marks the beginning of a new chapter for the scheme.

“We are looking forward to working with the Shepherd Construction team to build much needed new homes in a sought after corner of the capital. “