£250 million deal unlocks London Wall project

A City of London office redevelopment is moving into full construction following the award of a landmark building contract.

Gamuda Berhad and Castleforge have appointed global contractor Multiplex on a main works contract worth more than £250 million for the redevelopment of 75 London Wall. 

The agreement, signed this month, clears the way for main construction to begin in early 2026, following extensive enabling and demolition works carried out by the Erith Group.

The £1.2 billion scheme will adapt and significantly enhance the existing structure, increasing capacity by more than 50 per cent while retaining much of the original building to reduce embodied carbon. 

Practical completion is targeted for the first quarter of 2028.

Once complete, 75 London Wall will deliver more than 450,000sq ft of premium office space, alongside new ground-floor commercial units, a cultural forum and a public landscaped garden linking to Austin Friars.

Niall Farmer, head of Gamuda Land United Kingdom, said: “This contract marks a significant milestone in Gamuda Land’s continued expansion in the United Kingdom and in our strategy to unlock long-term value from prime City of London assets. 

“75 London Wall represents a rare opportunity to reposition an existing building of scale into more than 450,000sq ft of future-ready, Grade A workspace, at a time when supply of top-tier, highly sustainable offices in the City remains structurally constrained.

“Through hands-on oversight from planning approval through to contractor procurement and value engineering, Gamuda has shaped a redevelopment that is efficient, commercially resilient and sustainability-led. 

“As global corporates increasingly seek high-quality, low-carbon office space in prime City of London locations — amid a well-documented shortage of top-tier supply — this project is well positioned to meet that demand and deliver enduring value for occupiers and the City. 

“We look forward to working with Multiplex to bring this vision to life.”

Michael Kovacs, founding partner of Castleforge, added: "At a time when London is experiencing its lowest level of office construction starts in almost two decades, delivering 75 London Wall to practical completion in Q1 2028 will provide the market with much-needed, best-in-class workspace at precisely the moment when supply constraints are most acute.

“Office real estate is a cyclical sector – you have to be building when no one else is willing or able.

“I’m proud of the Castleforge development team, whose expertise and dedication were met by Multiplex’s technical support and collaborative approach to agree this contract, giving us confidence that this will become one of the best schemes in the City on completion.

“The quality, efficiency and flexibility of 75 London Wall has been exceptionally well received by a wide range of potential occupiers seeking this calibre of workspace in the City, and the 5000 plus employees the building can accommodate will bring significant benefits to the London economy.”

Designed by Orms, the project is targeting leading sustainability credentials, including BREEAM Outstanding, WELL Core Platinum and NABERS UK 5 Star.

Callum Tuckett, managing director of Multiplex Global, added: "Delivering a project of this scale and complexity in the heart of the City requires not just construction expertise, but the ability to innovate under constrained site conditions whilst maintaining the highest sustainability standards.

“75 London Wall represents the future of sustainable commercial development, and we look forward to bringing our global expertise in complex urban construction to create a building that sets a new standard for the City. 

“Our work with the project team over the past year has positioned us perfectly to hit the ground running and deliver this scheme to the highest standards.”

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