Major residential development planned in London
The construction contractor company, McLaren, have been appointed to a new residential development at on 101 Cleveland Street, on London’s Fitzrovia, which includes 15 affordable housing units.
The project is a joint venture, at the commissioning level, between three companies: Art-Invest Real Estate UK, the German real estate developer ECE, and Dukelease Properties, at a cost of £190M.
The development will include the aforementioned 15 affordable housing units, 88 luxury apartments and 35,000sq ft of commercial space with completion of the major development scheduled for some time in 2021.
Developers are aiming to achieve the lofty ‘BREEAM Excellent’ accreditation with the demolition and substructure works being undertaken by the company, Erith, while the main construction works will not be carried out while early 2020.
The Development Director at Art-Invest Real Estate UK, Luka Vukotic stated: “We are excited to appoint McLaren on our first London development. Their capability and approach align with our vision to create an outstanding building and a high-quality residential product in one of London’s most vibrant locations.”
The Chief Executive Officer of Dukelease Properties, Richard Leslie added: “We are pleased to work with McLaren and move forward this exciting project with our JV partners, Art-Invest Real Estate and ECE. Fitzrovia is becoming one of London’s most sought-after areas and 101 on Cleveland Street will be a stunning addition to its residential market.”
The Regional Managing Director for McLaren London, David Miller concluded: “We are 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.”
The McLaren Group was established back in 2001 and covers a range of companies within the construction, property investment, and development fields, covering commercial offices, mixed-use buildings, residential, retail, education, logistics, hotels, and leisure.
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