The preliminary site works at Soho Place, on the corner of Oxford Street and Charing Cross Road in London W1, are ongoing. Derwent signed the main construction contract with Laing O'Rourke last week, it revealed today.
Including site acquisition cost and profit share to Crossrail, Derwent鈥檚 total capital expenditure to complete Soho Place is expected to be 拢283m.
Laing O鈥橰ourke鈥檚 拢195m contract is for a 10-storey building with retail and office space, coupled with a nine storey building split into three office floors above a 600-seat theatre, the first to be built in the West End of London for more than 50 years. In total, thee will be 209,000 sq ft of offices, 36,000 sq ft of retail space and 40,000 sq ft of theatre. Completion is expected in 2022.
Appointed preferred bidder in July 2018, Laing O'Rourke has been delivering enabling works for the project. Today marks the official start of main construction with the team concentrating on some challenging piling above and around the web of services and tube lines that sit below the site. The development is due for completion in November 2021.
Architect Allford Hall Monaghan Morris (AHMM) describes Soho Place as 鈥渁n enormous urban jigsaw that builds on the imminent arrival of Crossrail to bolster the large-scale regeneration of Oxford Street鈥檚 eastern end鈥�.
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