Balfour Beatty, the international infrastructure group, has been appointed as main contractor on The Madison, a 53 storey residential tower in E14, adjacent to Canary Wharf, being developed by award winning London developer LBS Properties.

The construction contract, worth £150m, will see the contractor follow on from its initial £1m pre-construction services win early in 2016.

Rising to 187 metres and located on Marsh Wall, The Madison is a striking new scheme comprising a 53 storey landmark tower, designed by globally renowned Make Architects, housing 423 high specification studio, one, two and three bedroom homes, including 104 affordable homes. Many of the homes will enjoy outside space and there will be an expansive collection of residents’ facilities, including a hotel-style lounge, gym, swimming pool and 24 hour concierge.

Piling works are currently underway, with commencement of the excavation of the basement and construction of the main concrete frame imminent. The entire project is due for completion in 2020 and early sales success has been positive – with the development now over 35% sold.

Nick Crawford, Director at LBS Properties, said: “Balfour Beatty has impressed us since the initial pre-construction services contract was awarded and we now look forward to working together to see the project through to completion.”

Dean Banks, Managing Director of Balfour Beatty’s UK Construction Services business, said: ”Following a successful partnership with LBS Properties during the pre-construction phase, we’re delighted to have been appointed to deliver full construction of this iconic structure. Our in-depth knowledge and expertise will ensure that we can efficiently and effectively, deliver this complex building and further support the on-going transformation of the local area.”