UK-based developer Balfour Beatty has won a pre-construction services contract for a £150m residential tower development besides the Canary Wharf building complex in London.
To be termed as 'The Madison', the tower will rise up to 187m with 53-storeys and belong to property development and investment management firm LBS Properties.
Designed by Make Architects, the building will have 423 residential apartments along with commercial space and extensive landscaped gardens at ground level.
Balfour Beatty is expected to start enabling works for the project from next month, following which a full contract for the construction will be awarded.
Balfour Beatty UK construction services managing director Dean Banks said: "The Madison will be one of the tallest structures under construction in the UK, standing at an impressive 187 metres.
"I am delighted the specialist skills and expertise Balfour Beatty offers in this growing market have been recognised by LBS Properties. We look forward to securing the full award in the summer and to delivering this iconic structure."
The developer is expected to complete construction works for the building by late-2019.
The tower has been planned to feature multiple amenities, including a 16th floor residents' lounge offering stunning views of Canary Wharf, a private screening room, business facilities, a gym, spa and swimming pool.
Image: An artist's impression of The Madison. Photo: courtesy of Balfour Beatty.