A Laing O’Rourke and Costain consortium has been awarded the £300m contract to redevelop Bond Street tube station for Transport for London

TfL said in a statement that construction of the station, seen as vital in preparing the way for the planned adjacent Crossrail station, will start next year, with completion slated for 2017.

Crossrail and the planned growth in Jubilee line capacity is set to increase the daily footfall from 155,000 to 225,000.

The Laing/Costain joint venture had been widely expected to beat off competition from Balfour Beatty and the Vinci/Bam Nuttall joint venture which recently won both the Tottenham Court Road and Victoria station upgrades.

Separate contracts will be let for the two Crossrail stations which will connect to Bond Street tube station.