British construction company McAleer & Rushe has begun work on the £138m Southbank Place Building 5 development in London.

Building 5 is the final phase of the Southbank Place development and Shell Tower Masterplan at London’s South Bank. It is located just 100m from the city's landmark, the London Eye.

Braeburn Estates, a joint venture between Qatari Diar Europe and Canary Wharf Group, is executing the master plan, which is a mixed-use development located inside the South Bank Conservation Area.

The 13-storey building on Belvedere Road will feature 92 apartment units and an additional 18,600ft² of retail space that is expected to bolster the area’s well-established public and retail offerings.

McAleer & Rushe senior director Jonathan O’Neill said: “We are thrilled to have been entrusted with the delivery of the final development phase of Southbank Place, a standout riverside development overlooking Central London, Big Ben, and [the] Houses of Parliament, making it one of the most desirable prime residential schemes in the city.

“The project demands a top level of expertise and experience with detailed high-specification schemes, which is an excellent fit for our long-standing reputation in the hotel and residential sectors and further reinforces our position as one of the leading construction partners for significant schemes in London.

“We look forward to working closely with Qatari Diar and Canary Wharf Group to bring forward the final piece to their visionary development.”