Mace has secured a £100m contract from European Land and Property to build a new luxury apartment complex as part of the Merchant Square development in Paddington, London, UK.
3 Merchant Square, which incorporates retail space on its ground level, will create 159 private apartments and 42 affordable apartments.
European Land and Property chief executive Richard Banks said: "This is the commencement of the final phases of regeneration around Paddington Basin and, when complete in 2014, this building will offer its residents stylish, high-quality and practical apartments just moments from Hyde Park, Little Venice and all the amenities of the West End."
The Merchant Square development involves the construction of six buildings including 1 Merchant Square, a 40-storey glass mixed-use tower featuring a hotel, apartments and a skybar.
The 2 Merchant Square development includes a 17-storey office with commercial retail and cafes at ground level.
3 Merchant Square will be located on the site’s eastern side with 6 Merchant Square developed on the western side.
Both 4 Merchant Square and 5 Merchant Square were completed in 2010; 3 Merchant Square is the third building to be developed.
The Merchant Square masterplan also includes a new waterside event space, water maze and a new opening bridge across the Grand Union Canal.
Mace will commence work on the construction of the project’s third building in June 2012 and is expected to complete it by summer 2014.
Caption: 3 Merchant Square will include 159 private apartments and 42 affordable apartments. Image: Mace.