Lendlease have been appointed by Schroder UK Real Estate Fund (SREF) and Stanhope Plc as the preferred contractor for the first of five office buildings at Ruskin Square, Croydon.

Ruskin Square is the partnership's £500m business, residential and leisure quarter adjacent to East Croydon Station. Work on the first building has now commenced, with the creation of 200,000 sq ft of flexible office accommodation and independent retail space on the ground floor, with completion expected in autumn 2016.

Neil Martin, Managing Director, Construction at Lendlease, said: "We are looking forward to working with Stanhope and Schroders on this pivotal development in a part of South London that is set to undergo a remarkable transformation over the next few years. Adding to our high-profile portfolio of major London construction jobs, the contract is testament to the strong relationships we have with our clients and our expertise in building mixed-use regeneration schemes."

Situated at the heart of Croydon's business district, the 2 million sq ft Ruskin Square development will also provide up to 625 residential units and 100,000 sq ft of retailing, cafes, restaurants and public space.

Sir Edward Lister, Deputy Mayor for Planning, said: "Croydon is set to become one of the capital's most vibrant town centres and a major driver of our economy. Lendlease's appointment will act as a catalyst for change, bringing forward much-needed valuable office space in South London."

Work on the first residential phase at Ruskin Square began in July 2014, with Places for People appointed to build and manage the construction of 161 high quality homes, due to be completed in 2016.