UK-based construction firm Mace has won the contract for a £33m mixed-use project at One Bedford Avenue in London's West End.
Scheduled for completion in early 2017, the project will be developed for co-partners Exemplar and AshbyCapital.
The scheme has been designed by Bennetts Associates to offer 115,000ft² of high-end retail and office space to replace two outdated office blocks.
One Bedford Avenue will also feature an art installation on its south-west corner to mark the entrance on to Tottenham Court Road.
Redevelopment of the surrounding area is also a part of the agreement, which will be affected by the Crossrail completion in 2018.
Design of the project aims to receive a BREEAM Excellent rating for the commercial space and a Very Good for the retail units.
The development will include additional sustainable features such as green roofs, photovoltaics and CHP.
Exemplar founding director Clive Bush said: "Exemplar, together with our partners AshbyCapital, are excited to be working with Mace to deliver this landmark building in probably the most dynamic location in London.
"The development strengthens our investment in the area and helps underpin the unprecedented growth of Tottenham Court Road and the eastern end of Oxford Street."
Mace Construction COO Gareth Lewis said: "This is a fantastic project for Mace and we're delighted to be working with Exemplar on another high-quality, high-profile development in London's West End.
"With Crossrail due for completion shortly after One Bedford Avenue, the scheme will be a major new addition to the Tottenham Court Road area."
Image: Design for One Bedford Avenue, which will replace the Time Out magazine building. Photo: courtesy of Mace.