McLaren will put up three blocks of flats at 101 Cleveland Street, ranging from three to nine storeys, right next to the BT Tower.
The previous two-storey post-war commercial building on the site has been demolished. In its place will be 88 apartments for private sale, 15 affordable housing units and 35,000 sq ft of commercial space.
Demolition and substructure works on the island site are being carried out by Erith with main construction works due to start early next year. The project is scheduled for completion in 2021.
The developer is a joint venture of Art-Invest Real Estate UK, German real estate developer ECE, and Dukelease Properties.
Luka Vukotic, development director at Art-Invest Real Estate UK, said: “We are excited to appoint McLaren on our first London development. Their capability and approach aligns with our vision to create an outstanding building and a high-quality residential product in one of London’s most vibrant locations”.
McLaren regional managing director David Miller said: “We’re excited to be working on delivering this prestigious project. McLaren has extensive experience in the residential and mixed-use sector, and it is great to be a part of a team delivering high-quality homes in this part of London.”