The firm beat off Bovis Lend Lease to win the 24-storey Willis Building at 51 Lime Street, which will be opposite the Lloyd's Building, designed by Richard Rogers.
The scheme is named after the insurance firm Willis, which will occupy the 50,000 m2 block. Willis signed a 25-year lease with British Land in March, the biggest in the City for 18 months.
Mace will work under development manager Stanhope. Groundwork has begun on site and the project is due to be completed in two years.
The construction management route, which has been out of favour for major schemes since the 1990s, has shocked some in the market. With this route, as opposed to a fixed-price contract, the burden of risk is with the client. One office project manager said: "I'm absolutely astounded. Most office developers pass the risk on to contractors."
However, Building understands that this procurement route is also being considered on two buildings on the More London site next to the Greater London Authority building on the Thames in Southwark, also designed by Foster and Partners.
The team working on the British Land project includes QS Davis Langdon, structural engineer Whitbybird, services engineer Roger Preston and space planner DEGW.