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McAleer & Rushe awarded £60m contract for major East London residential scheme

McAleer & Rushe has been awarded the £60m contract to deliver a 196-unit residential development in London Road, Barking by Yara Capital. (Image: Rockhunter and Greywolf Studios)
McAleer & Rushe has been awarded the £60m contract to deliver a 196-unit residential development in London Road, Barking by Yara Capital. (Image: Rockhunter and Greywolf Studios)

CO Tyrone construction group McAleer & Rushe has been awarded a £60 million contract to build a major high rise residential development in East London.

The Cookstown company will build 196 residential units on London Road, Barking, for London-based property investor Yara Captial.

The project, on a vacant site and former bus depot, includes 125 build-to-rent apartments and 71 affordable housing units.

It will range between nine and 22 storeys, comprising a mixture of studios, one, two, and three bedroom apartments.

Construction is due to commence in November and will be partly funded by BeFirst, the urban regeneration arm of Barking & Dagenham Council, with a targeted completion date of June 2026.

The deal comes just three weeks after McAleer & Rushe extended its sponsorship deal with Tyrone GAA for another two years.

Commenting on the contract win, Mark Diamond, senior director at McAleer & Rushe said: “As the trusted construction partner for key investors and developers in the industry, we are committed to delivering homes across a mixture of tenures including build to rent, private for sale, affordable housing and co-living.

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“This latest residential contract, which is one of eight currently under construction in the greater London area, underpins our strong client relationships, our vast skill set and proven track record in delivering high quality city centre residential schemes," he said.

“We are looking forward to working in partnership with Yara Capital and BeFirst to bring forward modern and sustainable housing in the historic heart of Barking.”