Construction to commence on first phase of Victoria Circle in London
Construction work will commence on the first phase of the £768 million ($1,168.97 million) Victoria Circle in London, which is being developed by Land Securities Group Plc. in a 50:50 joint venture with Canada Pension Plan Investment Board (CPPIB).
Sprawling over a 5.5 acre site, the first phase will comprise of 727,000 square feet of space. Upon completion, the first phase will offer 480,000 square feet of efficient, high quality office accommodation and 80,000 square feet of retail/restaurant space.
In addition to that it will also include 170 luxury modern apartments within three architecturally striking buildings, at the centre of Victoria Circle.
Designed as a modern destination to work, live and play, the Victoria Circle will crown the recent re-invention of Victoria, which is already home to businesses such as Channel 4, Microsoft and the Telegraph Media Group as well as high-fashion names such as Jimmy Choo, Tom Ford, and Burberry.
Mace has been appointed as the main contractor for the project. Demolition on the Victoria Circle site started in October 2012. Construction on the project is scheduled to start in June 2013 with completion due in the second quarter of 2016.
