The project is being carried out by a joint venture between Art-Invest Real Estate UK, German real estate developer ECE and Dukelease Properties.

The development will create 88 luxury apartments, 35,000 sq ft of commercial space and 15 affordable housing units and is scheduled for completion in 2021.

Luka Vukotic, Development Director at Art-Invest Real Estate UK, said: “We are excited to appoint McLaren on our first London development.

“Their capability and approach aligns with our vision to create an outstanding building and a high-quality residential product in one of London’s most vibrant locations”.

Richard Leslie, CEO of Dukelease Properties, added: “We are pleased to work with McLaren and move forward this exciting project with our JV partners, Art-Invest Real Estate and ECE.

“Fitzrovia is becoming one of London’s most sought-after areas and 101 on Cleveland Street will be a stunning addition to its residential market”.

Demolition and substructure works on the island site are being carried out by Erith with main construction work due to start early next year.

David Miller, McLaren’s Regional Managing Director – London, said: “McLaren has extensive experience in the residential and mixed-use sector, and it is great to be a part of a team delivering high-quality homes in this part of London”.