OREANDA-NEWS. On 09 June 2008 was announced, that Mirax Group is to become a co-developer of the 52-storey mixed-use complex Mirax-Beetham Tower in the business centre of London on 1-16 Blackfriars Road.

“A partner of Mirax Group on the construction of the skyscraper is Beetham Organization that is famous for its successful projects and located in Liverpool,” a press release of Mirax Group said.

According to the document, the cost of the Russian developer’s share in the project Mirax-Beetham Tower in London has reached Ј60 million.

“A cost price of the project will total approximately Ј500 million, a market price, according to the 2008 prices, will be Ј1 billion,” the press release noted.

Mirax-Beetham Tower is to have the 100,000sq m area and the 163m height.

The construction of the mixed-use complex is scheduled to be launched in January 2009 and to be completed in 2011.

The developers plan the complex will contain a 35,000sq m hotel, 96 apartments with the area of 30,000 sq m as well as stores, restaurants, exhibition halls, Public Plaza retail and entertainment centre and a multilevel car park with the area of about 12,000 sq m.

“We expect a quick payback of the project. A lease contract with the Jumeirah Hotel Group has currently been concluded, the cost of the apartments with beautiful views of the historical centre of London is estimated to be not less than Ј30,000 per square metre,” Maksim Temnikov, member of the committee of directors of Mirax Group, said.

The project of Mirax-Beetham Tower has been set up by the English architect Ian Simpson.