Multiplex has won the principal construction contract for the redevelopment of 75 London Wall in the City of London. The contract is valued at more than £250m ($338m).
The project is being developed in partnership with Malaysian property group Gamuda Berhad and UK-based real estate investor Castleforge. With the main contractor now appointed, the scheme has moved into the full construction phase.
According to Gamuda Land UK head Niall Farmer, “This contract marks a significant milestone in Gamuda Land’s continued expansion in the United Kingdom and in our strategy to unlock long term value from prime City of London assets.”
He added, “75 London Wall represents a rare opportunity to reposition an existing building of scale into more than 450,000ft² of future-ready, Grade A workspace, at a time when supply of top tier, highly sustainable offices in the City remains structurally constrained.”
The £1.2bn redevelopment follows a period of enabling and demolition works carried out by Erith Group. With these early-stage activities complete, main construction works are now set to begin.
Practical completion is scheduled for the first quarter of 2028. Once delivered, the redevelopment will increase the site’s capacity by more than 50% and provide over 450,000ft² of office space.
Architecture firm Orms is leading the design of the project. The development is targeting several sustainability benchmarks, including BREEAM Outstanding, WELL Core Platinum, and NABERS UK 5* Design for Performance.
Castleforge founding partner Michael Kovacs said: “At a time when London is experiencing its lowest level of office construction starts in almost two decades, delivering 75 London Wall to practical completion in Q1 2028 will provide the market with much-needed, best-in-class workspace at precisely the moment when supply constraints are most acute.”
Before securing the main contract, Multiplex worked under a pre-construction services agreement with Gamuda and Castleforge for nearly a year. This phase focused on design development, cost planning, and construction readiness.
Multiplex Global managing director Callum Tuckett said: “75 London Wall represents the future of sustainable commercial development, and we look forward to bringing our global expertise in complex urban construction to create a building that sets a new standard for the City.
“Our work with the project team over the past year has positioned us perfectly to hit the ground running and deliver this scheme to the highest standards.”
—----------------------
Raising capital? Explore 3,000+ PropTech and ConTech VCs in one place →https://www.proptechbuzz.com/vc
If you are a proptech company and want to promote your products for free, go to proptechbuzz.com and submit your products. For investors or proptech buyers, sign up on our platform to stay informed about exciting updates and trends in the Proptech Ecosystem.
Explore more Proptech news at proptechbuzz.com/news, for news tips and promotions, reach out to marketing@proptechbuzz.com.