Balfour Beatty has confirmed that it has signed a £102m contract to construct phase one of the East Wick and Sweetwater development on the Queen Elizabeth Olympic Park.
The initial phase, which marks the first of seven construction phases, is for four mixed use buildings, including 302 apartments, townhouses and duplex residencies and a number of associated commercial facilities including retail and leisure amenities.
Balfour Beatty Investments, in joint venture with Places for People, will provide equity for the construction works with a £78m loan from Homes England that was agreed in February.
Graham Hill, managing director of Balfour Beatty’s London construction business, said: “This contract award builds on Balfour Beatty’s strong relationship with the Queen Elizabeth Olympic Park and the London Legacy Development Corporation, having constructed the London 2012 Aquatics Centre and delivered transformative engineering works to the London Olympic Stadium.”
Ground works have now started and completion is expected in spring 2021. At construction peak, the project will employ approximately 500 people.
This article was first seen on https://www.theconstructionindex.co.uk/news/view/balfour-beatty-closes-102m-sweetwater-deal