Ant Yapi bags £100m job for Hyde Park luxury flats

Aaron Morby 3 years ago
Share

London developer Fenton Whelan has awarded builder Ant Yapi a £100m design and build contract for its latest super-prime flats scheme in the capital.

Covid-19 vaccine gives developer confidence to award contract for £500m Park Modern development
Covid-19 vaccine gives developer confidence to award contract for £500m Park Modern development

Fenton Whelan director Sanjay Sharma said the decision to advance to contract award came as the Government Covid-19 vaccination programme signalled a return to normality.

The design and build contract is the largest agreed this year for a residential-led project in prime Central London.

Ant Yapi UK is the UK subsidiary of an Istanbul-based construction company which specialises in international hotel and luxury residential projects.

It has delivered projects in Belgravia and Marylebone as well acted as main contractor on the Aman Hotel New York, the Zaha Hadid Capital Hill Villa and the 240m tall Moscow City Federation Towers.

It will work on the prime site overlooking Kensington Palace Gardens. The Park Modern project will be built out with a 190,000 sq ft scheme valued at £500m.

This will consist of 57 one-to-six bedroom luxury residences, as well as 30,000 sqft of premium commercial space.

Forward sales have achieved £4,600 per sq ft, a record price for homes on the Northern boundary of Hyde Park

Residents in the development will have access to valet parking, a 25m pool, gym, spa, cinema, and treatment salon.

Sharma, a co-Founding Director of Fenton Whelan said: “In late 2019 we did a teaser marketing and sales campaign for Park Modern and as a result of this pre-sold the first phase of apartments at values up to £4,600 per sqft, a price record for homes on the Northern boundary of Hyde Park.

“Then, due to Brexit and the COVID-19 pandemic we decided to pause sales, incrementally progress construction and monitor the prevailing economic conditions.

“With the announcement of a vaccine and the return of confidence that by the Spring we will see the start of a return to normality, we made the decision to award in a single stage a £100m construction contract to Ant Yapi, the largest construction deal for a resi-led scheme awarded in London’s West End this year.

“We anticipate that the return to normal next year will unlock significant pent up demand in the London market and we want to be ready to be able to launch phase 2 in a strong market.”

The development is also making more than £18m in public contributions, including £11m to affordable housing.

It is also contributing to replacing the gates into Kensington Gardens.

 

Latest news

Wates wins former Daily Mail printworks transformation

British Land advances major cultural venue at London’s Canada Water
10 hours ago

Mace poaches Ramboll chief to be Head of Engineering

Martin Feakes will develop civil and structural engineering offer at Mace
10 hours ago

Subcontractors form alliance for major civils jobs

Trio of specialists join forces to collaborate and offer Tier 1 contractors a turnkey solution
14 hours ago

Fear of supply chain failures boosting collaboration

Procurement survey also reveals project bank account use is rising
13 hours ago

Wates sets up business to target 160,000 mouldy social homes

Healthy Homes service will be offered to social landlords across England
14 hours ago

Higgins wins £75m Peabody Passive House job

Latest phase of Deptford Landings to start construction
14 hours ago

Contractors and unions agree Sizewell C working deal

New deal offers improved sick pay and parental leave over Hinkley Point deal
1 day ago

Competition chiefs win legal fight for more construction raids

High Court rules CMA officials can raid a domestic property as part of investigation
1 day ago

More Osborne companies file administration notices

Three more divisions lodge notices with court
2 days ago

McLaren wins multi-storey urban logistics contract

South London win with British Land is pioneering urban logistics hub
2 days ago

Big social housing schemes at risk over funding uncertainty

Housing associations warn uncertainty over public funding beyond 2026 is curbing new schemes
2 days ago

Kier wins Worcestershire town centre renewal

Firm secures Bromsgrove commercial and cultural hub project
2 days ago

BAM signs Kent school contract at £42m

Sevenoaks school rebuild signed off at £8m more than first estimates
2 days ago

RG Group signs £121m Newcastle rental homes job

Developer Olympian Homes advances 519 flats plan at Pottery Lane site
4 days ago

Geoffrey Osborne files administration notice

Contractor in talks to save parts of the business
5 days ago

Winners named for £260m Manchester Uni framework

B&K, Henry Bros, Graham, Robertson and Vinci among new line-up
5 days ago

Shed specialist Benniman rides out market lull

Worcestershire warehouse builder says industrial and logistics work is picking up again
5 days ago

Another contractor cleared after high profile immigration raid

Adana Construction employees were working legally on site swooped on by Home Office
5 days ago

McAleer & Rushe wants to meet new London suppliers

Contractor holding Meet the Buyer event in London: Register now
5 days ago

McAlpine signs £500m Broadgate dual towers deal

Work to start on iconic 36-storey and 21-storey towers
5 days ago

Worker rescued from collapsed four metre deep trench

Fire crews take six hours to save trapped builder near Blackwall Tunnel
6 days ago

Gove puts another major building scheme on hold

Secretary of State starts another planning fight after M&S defeat
6 days ago

Greenwich University tenders £300m framework

Up to five firms will carry out upgrade and newbuild work at three campuses
6 days ago

Work starts on Manchester 26-storey Obsidian tower

Contractor Domis starts Salboy's 10th Manchester scheme in seven years
6 days ago

Race for £1.3bn West Midlands social homes framework

The Community Housing Group reboots tender race for new build housing
6 days ago

Delancey submits £400m King’s Cross lab plans

200,000 sq ft lab/office project will be built above railway and tube tunnels just 4.5m below
6 days ago

Winners revealed for £150m fire safety framework

New deal will help organisations comply with the Building Safety Act
6 days ago

Sellar plans £500m City tower next to Walkie-Talkie

Consultation starts on London 60 Gracechurch Street tower
7 days ago

Severfield ends year on high with record order book

Orders top £500m with strong future pipeline of opportunities ahead
7 days ago

Second senior director exits National Highways

Commercial director Malcolm Dare set to move on to new role
7 days ago

Contractor services