County Tyrone Developer Signs £27m Deal To Build Luxury London Flats
One of Northern Ireland’s largest property firms McAleer and Rushe has confirmed a £27m deal to build luxury flats in London’s West End.
The 55,400 sq ft property located on Marylebone Lane, off the city’s main shopping thoroughfare Oxford Street, will consist of lower ground and seven upper floors.
In addition it will also have roof terraces and two basement levels, and have 22 apartments which include studios, one to three bedroom flats, and penthouses.
In 2014, the construction side of the Cookstown-based business had a turnover of £104m and £3m profit.
Martin Magee, managing director of McAleer & Rushe Contracts UK, said: “This is a great project to be associated with as it contributes so positively to its environs by enhancing the prestige of this residential neighbourhood.
“Our construction business has made a strong start to the year having recently secured a number of contracts across the hotel, office, student housing and residential sectors – not just in London but across the UK.”
The construction project is for Clivedale Properties, a UK subsidiary of Indiabulls chairman Sameer Gehlaut.
The development will feature a 25m swimming pool, gym, spa, gardens and residents’ lounge.
The construction company said: “The building will be dressed in a warm and reflective glazed terracotta external cladding with a subtle variation in colour and shade to add visual interest and complexity.”
The firm, which employs 200 people in Northern Ireland, recently acquired Clarendon House on Adelaide Street and the former Belfast Met building on Brunswick Street.
Its previous work in Belfast has included the Jury’s Inn on Great Victoria Street, the Holiday Inn on Ormeau Avenue, and Bedford Square.
The firm is set to announce two large scale commercial developments in the centre of Dublin within the next month.
And the business also said it would announce another major deal in London soon.
Like many Northern Ireland construction companies, it has looked to contracts in England to make up for lack of work at home and across the border in the Republic.
Source: belfasttelegraph.co.uk
