Main contract Mace is set to start main works of a 235,000 sq ft office building above Paddington station in the first quarter of next year.
Preparatory work has already started on site ahead of the formal site acquisition in January 2026.
Helical, which is developing the project in joint venture with Transport for London鈥檚 property company Places for London, reported this morning that: 鈥淭hrough early engagement with the main contractor, the programme has been materially accelerated with completion now targeted for Q3 2028 and at a point of particularly limited supply in the London market.鈥�
Completion had previously been Q4 2028.
The proposed development, designed by Grimshaw, is for a 19-storey canalside building with 15 floors of office accommodation and ground floor retail. The value of Mace鈥檚 contract has been reported as 拢200m.
Helical has also confirmed that heads of terms have been agreed for the forward funding of its development above Southwark Tube station 鈥� a 429 studio student accommodation building with Places for London 鈥� and the forward sale of the 44 affordable homes to the London Borough of Southwark. Both transactions are expected to exchange before the year end. Construction is scheduled to start in the first half of 2026, with completion of both buildings targeted for 2029.
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