It will transform a former warehouse site at Capitol Way on Colindale into 379 apartments split across four, six-storey buildings.

The project includes 60,000 sq ft of shops and a 450-space basement car park.

Th deal is the second major win for Shepherd in the Capital in the last few months, after finally signing a £43m contract for the Spring Mews development of student accommodation, hotel and office space in Vauxhall, near the Thames.

Demolition work is underway and Sutton-based Foundation Developments has been signed up for the groundworks.

Architect for Shepherd on the scheme will be Leach Rhodes Walker with Imtech providing mechanical and electrical services and Walsh Associates providing structural engineering expertise.

Mark Tant, managing director of Shepherd Construction’s South Region said: “We are delighted to be involved with the Capitol Way redevelopment that will further unlock the future prosperity of the area by creating a new neighbourhood.”