Market Leads & Opportunities
Turkish contractor wins £100m contract for Hyde Park flats
Turkish contractor Ant Yapi has secured a £100m design and build contract for the construction of a residential development in the Queensway area of central London, overlooking Hyde Park.Developer Fenton Whelan has now secured finance for its Park Modern scheme on Bayswater Road, with the backing of Cheyne Capital.Fenton Whelan has managed the construction site during demolition and groundworks and Ant Yapi will complete the development.Park Modern is a 190,000 sqft development providing 57 apartments varying in size up to six bedrooms, as well as 30,000 sqft of commercial space. Gross development value is put at £500m.Fenton Whelan has already achieved forward sales for all of the first phase release of residences in the development at values of up to £4,600 per sq ft, a record price for homes on the northern boundary of Hyde Park.Ant Yapi (UK) Limited was formed in 2015 and is a wholly owned subsidiary of Ant Yapi Sanayi ve Ticaret AS.
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