As we reported in April, CI-One Construction, a joint venture between Interserve and China State Construction Engineering Corporation (CSCEC), has been selected for the scheme by Chinese developer Dalian Wanda. [See our previous report here.]
The construction contract is valued at £550m.
The One Nine Elms scheme features high-end residential, hotel and retail space. It is part of London's wider Nine Elms development between Vauxhall and Battersea, which also includes a new embassy for the United States of America and the redevelopment of Battersea Power Station.
The One Nine Elms project includes the construction of two towers of 57 and 42 storeys, together housing 494 apartments, which will be among the tallest residential towers in the UK. A 187-room five-star hotel will be built at the base of the River Tower. Work on the scheme has already started with demolition nearing completion and piling works due to start imminently.
One Nine Elms will be the first UK development project by Wanda One – a subsidiary of China’s largest property group, Dalian Wanda.