BAM Construction has started construction on the £23m final phase of the Regent Quarter mixed-use regeneration scheme at King’s Cross, London, UK.
The company was appointed by joint venture developers Henderson Global Investors and Istithmar P&O Estates for the regeneration scheme.
Under the project, BAM will build a seven-storey residential block providing 35 apartments, a six-storey office block and a five-storey block comprising one retail and three residential units.
BAM Construction senior project manager Paul Joyce said that it is a good sign that the London commercial market is moving again after a difficult period.
"The King’s Cross area is being developed at quite a speed and we are delighted that BAM is playing its part in regenerating the area and kickstarting the local economy," Joyce said.
The 5.8-acre scheme comprises four blocks, of which Block A was sold in 2005 and Blocks B & C were developed by P&O between 2004 and 2006.
The final phase, Block D, is scheduled to be completed in April 2013.
Istithmar P&O Estates formed a joint venture partnership with Henderson Global Investors in February 2011 to deliver Block D.
BAM will convert a listed former horse stables into offices to complete the agreement that will see the firm return to the development it first worked on in the late 1990s.
Sustainable features of the project include geothermal cooling systems and bio-diverse roofs; the scheme’s office building is expected to achieve a BREAAM Excellent rating.
Piling work started in early December ahead of the full contract award and the concrete frame is now complete.
Upon completion, Regent Quarter will deliver more than 220,000ft² of offices, 64,000ft² of retail and restaurant accommodation, a 277-bed hotel and 175 apartments.