The contractor, which had a pre-construction services agreement with developer Wanda One, is the second to pull out of the proposed development for a five-star hotel and 437 luxury apartments, due for completion in 2019.
In April this year, CI-One Construction, a joint venture between Interserve and China State Construction Engineering Corporation also walked away from its pre-construction services agreement. Balfour Beatty was then chosen as a replacement in July. It is not clear why the agreement has broken down though it is understood agreement could not be reached on the programme of works or pricing.
In a joint statement Balfour Beatty and Wanda One (UK) Ltd said: “We can confirm that Balfour Beatty’s Pre-Construction Services Agreement with Wanda One (UK) Ltd for the main contract for the One Nine Elms development comes to a close in ten days’ time.
“Wanda One (UK) Ltd and Balfour Beatty will not be proceeding to a full contract award for the development.”
When completed, One Nine Elms will offer five-star living in association with the Wanda Vista Hotel London. Residents will be able to access in-room dining, 24-hour concierge and a butler service.
Situated on the banks of the River Thames at the gateway to the Nine Elms regeneration area, One Nine Elms will comprise two towers, River Tower reaching 42 storeys, and City Tower reaching 58 storeys, soon becoming the tallest residential development in central London.