Northern Ireland builder McAleer and Rushe has secured a £60 million (€69 million) contract from Yara Capital to deliver a 196-unit residential development in east London.
The vacant site and former bus depot on London Road in Barking will become a mixed-use development providing 125 build-to-rent and 71 affordable apartments.
The building, which will range in height from nine to 22 storeys, will feature a mixture of studios, one-, two- and three-bedroom apartments and will, the developers say, be complemented by generous amenity space.
It will include two commercial units on the ground floor and two roof terraces offering panoramic views overlooking the Abbey Green parkland and long views towards central London.
Construction on the prominent corner site at the edge of Barking town centre will commence in November and will be partly funded by BeFirst, the urban regeneration arm of Barking and Dagenham Council, with a targeted completion date of June 2026.
The development will also provide 286 secure bike-parking spaces, four car-parking spaces and a number of public-realm improvements.
Patrick Houghton of Yara Capital said: “Working in conjunction with BeFirst and the local authority we will provide a scheme that delivers a significant amount of affordable housing as well as rejuvenating the site and enhancing the surrounding area.
“We’re delighted to appoint McAleer and Rushe as our construction partner, who have the expert knowledge and experience in the residential sector, and together we are committed to delivering a regeneration scheme that will make the borough a great place to live, work and socialise.”