Key Points
- Multiplex has been awarded the main £250m construction contract for the redevelopment of 75 London Wall in the City of London.
- The deal was signed with Malaysian property group Gamuda Berhad and London-based real estate investor Castleforge.
- Main construction starts following enabling and demolition works by the Erith Group; practical completion targeted for Q1 2028.
- The £1.2bn project expands capacity by over 50%, delivering more than 450,000 sq ft of Grade A office space, plus commercial units, cultural forum and public garden.
- Designed by Orms, targeting BREEAM Outstanding, WELL Core Platinum and NABERS UK 5 Star; RetroFirst approach minimises embodied carbon.
- Prime location: one-minute walk from Liverpool Street, five minutes from Moorgate and Bank stations.
- Niall Farmer, Head of Gamuda Land UK, hails it as a milestone in UK expansion and unlocking City assets.
- Michael Kovacs, Founding Partner of Castleforge, notes low office starts in London and cyclical nature of sector.
- Callum Tuckett, Managing Director of Multiplex Global, emphasises innovation in constrained sites and sustainability.
- Preceded by Pre-Construction Services Agreement (PCSA) and £500m loan from Cheyne Capital in 2025.
Inverted Pyramid Structure
A landmark £250 million construction contract has been signed, paving the way for main works on the £1.2 billion redevelopment of 75 London Wall in London’s City financial district. Global contractor Multiplex will lead the project for developers Gamuda Berhad and Castleforge, with building set for completion in early 2028. The scheme addresses constrained supply of premium offices amid low construction activity.
What is the £250m deal for 75 London Wall?
As reported by Construction Enquirer, Multiplex has been officially awarded the main £250m construction contract for the redevelopment of 75 London Wall. The deal was signed with Malaysian property group Gamuda Berhad and London-based real estate investor Castleforge on Tuesday morning.
Infrastructure Intelligence confirms that Multiplex has been awarded the main £250m construction contract, signed today (6 January) with Gamuda Berhad and Castleforge. Bdaily states that Gamuda Berhad and Castleforge have appointed global contractor Multiplex on a main works contract worth more than £250 million for the redevelopment.
CoStar notes that Gamuda and Castleforge agree £250 million construction contract for major City office, with Multiplex carrying out redevelopment of former Deutsche Bank building. Building.co.uk reports that Multiplex signs on dotted line for 75 London Wall revamp, job valued at over £250m due to finish by spring 2028.
Who are the key players involved?
Gamuda Berhad is a Malaysian engineering, infrastructure and property group. Castleforge is a London-based real estate investor. Multiplex is the appointed global contractor.
The Erith Group led extensive enabling and demolition works. Orms is the renowned London-based architect designing the scheme. Cheyne Capital provided a £500 million property development loan earlier, as marked in a 2025 groundbreaking.
Niall Farmer serves as Head of Gamuda Land United Kingdom. Michael Kovacs is Founding Partner of Castleforge. Callum Tuckett is Managing Director of Multiplex Global.
When was the contract signed and what is the timeline?
The deal was signed on Tuesday morning in January 2026, as per Construction Enquirer. Bdaily specifies signed in January 2026, clearing way for main construction in early 2026. Infrastructure Intelligence dates it to 6 January.
Main construction starts now, following Erith Group’s works throughout 2025, including heavy demolition, structural strengthening, new foundations, core extensions and three tower cranes. Redevelopment expected to achieve practical completion in Q1 2028.
Multiplex worked over the past year under a Pre-Construction Services Agreement (PCSA). Bisnow mentions it among two London offices worth more than £1.75B starting spec development.
What does the redevelopment entail?
The project adapts and enhances the existing structure, increasing capacity by more than 50% while retaining much to reduce embodied carbon. It delivers over 450,000 sq ft (more than 450,000 net square feet) of premium, future-ready Grade A office space.
Additional features include new ground-floor commercial units, a cultural forum and public landscaped garden linking to Austin Friars. It takes a RetroFirst approach, prioritising retrofit and reuse for low-carbon design with net zero ambition. Enhanced daylight levels and significant proportion of existing building preserved.
The site was formerly Deutsche Bank, per CoStar. Location: one-minute walk from Liverpool Street station, five-minute from Moorgate and Bank.
What sustainability targets is 75 London Wall aiming for?
Designed by Orms, targeting BREEAM Outstanding, WELL Core Platinum and NABERS UK 5 Star (Design for Performance). It represents future of sustainable commercial development.
Callum Tuckett of Multiplex highlighted maintaining highest sustainability standards under constrained conditions. The approach sets new benchmark for efficiency and innovation, minimising embodied carbon.
What have project leaders said about the deal?
As reported by Construction Enquirer, 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 450,000 square feet of future-ready, Grade A workspace, at a time when supply of top-tier, highly sustainable offices in the City remains structurally constrained.”
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.”
Callum Tuckett, Managing Director of Multiplex Global, said: “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.”
Bdaily quotes Niall Farmer further: “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 in Bdaily: “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.”
Infrastructure Intelligence carries Niall Farmer: “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 450,000 square feet of future-ready, Grade A workspace, at a time when supply of top-tier, highly sustainable offices in the city remains structurally constrained.”
Callum Tuckett there: “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.”
What is the broader context of London office development?
London faces lowest office construction starts in almost two decades, per Michael Kovacs in multiple reports. The project capitalises on shortage of top-tier sustainable offices. Bisnow links it to two major spec developments worth over £1.75B, including 125 Shaftesbury Avenue.
It follows 2025 groundbreaking and £500m Cheyne Capital loan. The building can accommodate over 5,000 employees, boosting economy.
Professionals in Construction Management or Project Management courses can gain insights from such large-scale urban redevelopments, equipping them to handle similar complex contracts in the built environment.