19 Jun 2012 – Media Release
European Land and Property Limited is pleased to announce the appointment of international consultancy and construction company Mace as the main contractor for 3 Merchant Square, a development of luxury apartments and the next phase of Merchant Square in Paddington.
The £100 million contract will see Mace start work on site from this month.
3 Merchant Square will include 159 private apartments along with 42 affordable apartments and retail space on the ground floor. Completion is expected in summer 2014 and apartments are already available for sale off plan via the development’s marketing suite.
Merchant Square is a mixed use development comprising six buildings, including the iconic 1 Merchant Square tower. 3 Merchant Square is the third building to be developed following the completion of 4 and 5 Merchant Square in 2010.
The regeneration masterplan will create a new focus for Paddington based around a new waterside garden square. The high quality public realm will provide a green oasis to escape from the hustle and bustle of the West End. The landscaping will include a new waterside event space, spectacular water maze and a striking new opening bridge across the Grand Union Canal. Merchant Square is located within a short walk from the open spaces of Hyde Park, the restaurants of Mayfair and the shopping and entertainment facilities of the West End.
Commenting on the appointment, Richard Banks, CEO of European Land, said:
“We are very pleased to have appointed Mace to bring our vision of luxury waterside living at 3 Merchant Square to life. This is the commencement of the final phases of regeneration around Paddington Basin and, when complete in 2014, this building will offer its residents stylish, high quality and practical apartments just moments from Hyde Park, Little Venice and all the amenities of the West End. 3 Merchant Square focuses on quality and attention to detail and we are confident that Mace will deliver this vision in the completed building.”
Simon Underwood, Mace Director, said:
“We are thrilled to be involved in this next phase of Merchant Square, which promises to be a landmark development for Paddington. 3 Merchant Square is a first class prime residential and retail project and we look forward to working together with European Land to deliver an industry-leading exemplar scheme to the highest standards.”
Notes to Editors
About Merchant Square
– The development is a 50:50 joint venture between Simon and David Reuben and Bruce and Joe Jarvis.