Known as The Fitzrovia, the 87,000 sq ft redevelopment project is located 200m from Oxford Street and is going ahead amid  growing demand for larger scale workspace in the West End office market.

The contract is understood to be worth over £50m and when the project is complete in Autumn 2024, will deliver a building meeting the highest environmental and wellbeing standards – targeting a NABERS Design & Performance Rating of 5 Stars (Excellent), BREEAM Outstanding and Platinum WELL accreditations.

David McKenzie, Managing Director for London, South & Strategic Projects for Kier, said that carbon and on-site emissions would be minimised by an offsite construction approach, while innovative building materials would be used to optimise prefabricated components.

The building will be an all-electric scheme with solar panels incorporated as part of a green roof terrace to encourage biodiversity within central London.

New Tottenham Court Road building will be constructed to achieve highest environmental and wellbeing standards

John Duxbury, Head of UK Portfolio Asset Management at M&G Real Estate, said: “The Fitzrovia aims to be a champion of sustainability and wellbeing within the central London office market.

“Our investment in The Fitzrovia is a continuation of our strategy to develop assets of scale in prime locations where we are able to enhance the built environment by delivering assets with best-in-class ESG credentials.”

He added: “We are currently doing this at our ongoing mixed-use developments at 40 Leadenhall in the City of London and at Haymarket in Edinburgh.

“These assets, along with The Fitzrovia, are attracting strong interest from leading occupiers whose decisions are strongly influenced by sustainability and wellbeing issues enabling us to seek compelling risk-adjusted returns for our clients.”