Galliard Homes, part of the developer joint venture behind the £750m development in Shoreditch, is expected to deliver a 37-floor residential tower on the scheme.

It is also delivering site-wide enabling works. But the Enquirer understands that Multiplex is now likely to take the 250,000 sq ft major office element on the project after a procurement rethink.

A source told the Enquirer: “Galliard have been delivering the preconstruction work and now the word is Multiplex are set to take the commercial side.”

Multiplex is presently working on the neighbouring Principal Place project where it has just completed the office element and has now moved on to the second-phase residential tower.

Galliard Homes is delivering The Stage project in joint venture with backers Cain Hoy, McCourt, Vanke and The Estate Office Shoreditch.

A spokesperson for Cain Hoy said: “I can confirm that Galliard is building the residential element of The Stage and has also completed the early works across the site in line with the existing contractual agreement.

‘The joint venture partners are currently in negotiations regarding the appointment of a contractor for the commercial aspect of development; an announcement will be made once a formal appointment has been made.”

The scheme designed by architects Perkins + Will will transform the 2.3 acre site of William Shakespeare’s Curtain Theatre with the residential and office buildings set around a new public square containing the sunken remains of the Tudor theatre.

Stage scheme highlighted in brown

A new 200-seat sunken amphitheatre will provide a venue for plays to be performed

Galliard Homes is responsible for construction of 37-floor block of flats