Aykon London One Tower, a new residential tower designed by Kohn Pedersen Fox Associates, is set to rise 50-stories above London and offer 450 total residential units.
The project, which marks the first international development outside of the Middle East for Damac Properties, has a total development value of $844 million. $264 million of that total has been put towards a contract with the Australia-based company Lendlease to build the project.
London One will be located in the Nine Elms district, near the former Battersea Power Station building, and will overlook the south bank of the River Thames. Of the 450 units comprised within the building, 360 will be luxury units with a starting price of $1.2 million. The other 90 will be set aside as affordable units. Additionally, four stories have been earmarked as office space.
Despite the fact that a report from London’s property market adviser London Central Portfolio pointed to the number of new apartments being sold in London as declining, Damac believes there will be no issues with filling the tower, according to The National.
The first phase of Aykon London One accounted for about 40 percent of the total rooms available and has already sold out. The company believes it will see the same result for the next phase of units, which is expected to launch imminently.
Related Stories
| Dec 14, 2011
Belfer Research Building tops out in New York
Hundreds of construction trades people celebrate reaching the top of concrete structure for facility that will accelerate treatments and cures at world-renowned institution.
| Dec 12, 2011
AIA Chicago announces Skidmore, Owings & Merrill as 2011 Firm of the Year
SOM has been a leader in the research and development of specialized technologies, new processes and innovative ideas, many of which have had a palpable and lasting impact on the design profession and the physical environment.
| Dec 2, 2011
What are you waiting for? BD+C's 2012 40 Under 40 nominations are due Friday, Jan. 20
Nominate a colleague, peer, or even yourself. Applications available here.
| Nov 22, 2011
Suffolk Construction selected as contractor for Boston luxury residential tower
Project team breaks ground on 488,000-sf building that will feature world-class amenities.
| Nov 15, 2011
Suffolk Construction breaks ground on the Victor housing development in Boston
Project team to manage construction of $92 million, 377,000 square-foot residential tower.
| Oct 20, 2011
Johnson Controls appoints Wojciechowski to lead real estate and facilities management business for Global Technology sector
Wojciechowski will be responsible for leading the continued growth of the technology vertical market, while building on the expertise the company has developed serving multinational technology companies.
| Oct 18, 2011
Michel Bruneau wins 2012 AISC T.R. Higgins Award
The AISC T.R. Higgins Lectureship Award is presented annually by the American Institute of Steel Construction (AISC) and recognizes an outstanding lecturer and author whose technical paper(s) are considered an outstanding contribution to the engineering literature on fabricated structural steel.
| Oct 12, 2011
Vertical Transportation Systems Reach New Heights
Elevators and escalators have been re-engineered to help building owners reduce energy consumption and move people more efficiently.
| Oct 6, 2011
GREENBUILD 2011: NEXT Living EcoSuite showcased
Tridel teams up with Cisco and Control4 to unveil the future of green condo living in Canada.
| Oct 5, 2011
GREENBUILD 2011: Johnson Controls announces Panoptix, a new approach to building efficiency
Panoptix combines latest technology, new business model and industry-leading expertise to make building efficiency easier and more accessible to a broader market.
