Endurance Land, part of private Hong Kong property group Nan Fung Group, has appointed Multiplex as main contractor for its 99 City Road, EC1 development, a 36-storey tower in London's silicon roundabout tech city area.
Construction works will begin in the third quarter of 2026, with practical completion targeted for 2030. Located at the intersection of Old Street and the City, the 36-storey tower proposes 475,000 square feet of commercial.
Endurance Land said it had been designed as a next-generation tower for 4,000 knowledge occupiers, with the core principles sustainability, social value, resilience, adaptability and a tenant-led approach.
The development includes a triple-height event space, wellness suite, dining and café facilities, conference lounges, private terraces, end-of-trip provisions and a "makerspace".
Endurance Land said the target certifications are BREEAM Outstanding, NABERS 5-star, SmartScore and WiredScore Platinum certifications.
The build contract follows Multiplex’s earlier involvement as construction partner under a pre-construction services agreement and marks Endurance Land’s second major project with the contractor. The first was the recently completed Jahn Court and Brassworks at Regent Quarter, now leased to OpenAI and expected to open in 2027.
Richard Rixson, director at Endurance Land, said in a statement: “The scheme is designed around an idea: a workplace that drives innovation, giving tenants the environment they need to pursue their vision. Appointing Multiplex as main contractor is about more than bringing on a tier-one builder; it is about partnering with a team that truly understands who we are, shares our bold ambition for 99 City Road and consistently executes to the highest standard."
Callum Tuckett, managing director at Multiplex, said: "This appointment represents an important step forward for a development that will set a new standard for high-quality workspace in one of London's most dynamic locations."
Patrick Scanlon, senior analyst, CoStar, said: "Construction starts in London are currently 57% below the 10-year annual average, but continued upward pressure on rents for the very best space has strengthened the business case for speculative office development".
Knight Frank is leasing agent.
Kohn Pedersen Fox Associates is the architect.
Private Hong Kong property group Nan Fung has net assets of around £11 billion.
Endurance Land bought 99 City Road, one of the last major redevelopment opportunities near London's "Silicon Roundabout", for around £150 million in 2022 in a deal revealed by CoStar News. The building, owned by London & Regional, was leased to mobile satellite communications group Inmarsat until 2029 but there was a lease break in 2024.
Much of the area has been redeveloped with significant new offices and infrastructure, including Derwent London's White Collar Factory and the council-led regeneration of the roundabout.