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Contract signed for residential towers development

Contract signed for residential towers development

A contract has been signed between the developer and construction firm involved in the latest stage in the redevelopment of the Colville Estate in Hoxton, east London.

Wates has signed a £70 million deal with developer Anthology to build the Hoxton Press development, which consists of two towers, named Mono and Duo, which will be 20 and 16 storeys high respectively.

The development will be located next to Shoreditch Park and the Regents Canal. Construction is expected to be completed in summer 2018.

Managing director of Wates Construction’s London private residential division Mark Tant welcomed this latest expansion of the firm's portfolio in the capital, something he set out to increase when he joined the firm in 2014.

He told the Construction Index: "I joined Wates with a vision to increase our presence in this thriving sector and bolster the business’s already prominent position as a respected market leader. The achievements of the past 12 months and our expanding presence in the private residential market are a huge testament to the success the business is seeing in its growth strategy."

The project is part of Hackney Council's masterplan to improve the Colville Estate, which started out with 4,000 homes but will have an extra 900 when the scheme is complete. The new dwellings will range from one to four bedrooms and the majority of them will be available for social rent, shared rent and shared equity.

Hackney's blueprint was drawn up in 2011 by Karakusevic Carson Architects in 2011, which has also designed the Hoxton Press scheme.  

The Hoxton area is one of a number of areas of east London that is improving and becoming more popular as a place to live in, helped by major recent improvements in its transport connections.

While Hackney remains the only inner London borough not served by the Underground, the area is now linked to the Overground system, with the new Haggerston and Hoxton stations both being within walking distance of the Colville Estate.

Image: iStock

 

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