The awards were presented by the Periodical Publishers Association at the Le Méridien Grosvenor House Hotel in Park Lane, central London.
Building, which won the award in 2002 and 1999, beat seven other shortlisted titles to win the honour. These included two other CMPi weeklies, Music Week and Farmers Guardian.
The judging panel said Building kept getting better, "an achievement when you're already excellent". It noted: "The quality of all Building's products is very high, it is extraordinarily consistent – punchy, campaigning, diverse and involved. There is not a dull page."
Barrick, now publisher of Building, was chosen from a shortlist of six candidates. The judges said he had taken the magazine to fresh heights.