Developer to re-start work on luxury apartments after cash injection from Lloyds TSB

John Sisk & Son has won the contract to deliver £40m of conversion works for the Grosvenor House Apartments project on London’s Park Lane.

The contract win follows the decision of developer Park Lane Properties to restart work on the luxury apartment block and hotel after securing “significant development funding” from Lloyds TSB.

The developer, a consortium of Kuwait-based investors, stopped construction work last February to review funding of the project.

Sisk was the original contractor engaged to undertake the building work on the project delivering 133 apartments ranging from studios to five bedroom premium sized penthouses.

It is anticipated that construction will be substantially completed by April 2011 with an expected launch in June 2011.

David Sershall, director at Sisk, said: “It is great news that Park Lane Properties feels that Sisk is best placed to deliver the construction works and we now look forward to the successful completion of the development.”