Mace signs Shard construction contract

Construction of The Shard at London Bridge Quarter is set to start next month after Mace group signed the construction contract with LBQ.

The Shard will form the first phase of the £2bn Renzo Piano-designed London Bridge Quarter regeneration project, which also includes redevelopment of the London Bridge Station concourse and development of London Bridge Place, a landmark 17- storey corporate headquarters.

Site demolition for The Shard has been completed and test piling is currently underway.

Mace is set to start building work in March and will be completed in spring 2012.

Meanwhile a separate contract will be let for the adjoining London Bridge Place, which comprises 56,000m2 of office space.

Demolition of the site's existing building, New London Bridge House is expected to get underway in March with construction starting towards the end of 2009. Completion is anticipated during the third quarter of 2012.

Stephen Pycroft, chief executive of Mace Group said: "This is a fantastic milestone for our company and an encouraging sign for our industry in difficult times. Mace first became involved with the Shard in 2004 and we are all delighted to conclude the negotiations so that we can get on with the challenge of building what will be a uniquely prestigious project for London."

Salah Mohamad Jaidah, chairman of LBQ added: "We are very pleased to have reached the stage where everybody has the confidence to move this project forward in such a strong manner. The investors in LBQ Ltd have great confidence that The Shard will be completed on schedule in what are very difficult economic conditions. The uniqueness of The Shard and its sister building London Bridge Place is one of the great strengths."