Carillion scoops £130m Project Bankside contract

Carillion has won a £130million contract for ‘Project Bankside’, a luxury residential development adjacent to the Tate Modern, by a Native Land and Grosvenor joint venture.

Work on the first phase of the scheme begins this week, and is set to transform the local area when it completes in 2012.

The development, located on London’s South Bank and overlooking the River Thames and St Paul’s Cathedral, is one of the most strongly anticipated residential schemes in the capital.

‘Project Bankside’ is one of just two current luxury residential schemes in London designed by globally-renowned architectural practice Rogers Stirk Harbour + Partners.

Commenting, Carillion chief executive, John McDonough, said: “We are delighted to have been awarded this contract and look forward to working with Native Land and Grosvenor, with whom we have a long-standing relationship, to deliver this prestigious urban regeneration project”.

Alasdair Nicholls, chief executive of Native Land commented: “We’re delighted to have appointed Carillion to deliver this project which will undoubtedly be a stunning new development for London’s South Bank. This is an exceptional project in a growing quarter of London that is already hugely sought after.

"Our strong off-plan sales to date are testament to ‘Project Bankside’s’ desirability. We look forward to working alongside Carillion to deliver this exciting scheme.”