Balfour Beatty has won a £150 million contract to build a new residential tower in London.

The contractor will develop the 53-storey 'The Madison Tower' featuring 423 apartments, a residents' lounge and business facilities at Canary Wharf.

Balfour Beatty signed a £1m pre-construction services agreement with LBS Properties in 2016.

Piling works and basement excavation works are now underway. Main construction is expected to be complete in 2020.


Dean Banks, Managing Director of Balfour Beatty's UK Construction Services business, said: "Following a successful partnership with LBS Properties during the pre-construction phase, we're delighted to have been appointed to deliver full construction of this iconic structure. Our in-depth knowledge and expertise will ensure that we can efficiently and effectively, deliver this complex building and further support the on-going transformation of the local area."

Nick Crawford, Director at LBS Properties, added: "Balfour Beatty has impressed us since the initial pre-construction services contract was awarded and we now look forward to working together to see the project through to completion."

(LM/MH)