Ballymore–Penta London JV: design and delivery notes for project teams
Reviewed by Tom Sullivan

First reported on The Construction Index
30 Second Briefing
Urban regeneration specialist Ballymore and Slovakian developer Penta Real Estate have formed a 50/50 joint venture to deliver more than 680 homes across two London schemes with a combined GDV exceeding £700m. The Cuba Street project comprises a 52-storey residential tower adjacent to Canary Wharf, while The Capston, the final phase of Ballymore’s Embassy Gardens in Nine Elms, will provide 247 apartments in two blocks of 11 and 22 storeys. Both schemes have planning consent and are already under construction, signalling continued high-rise residential demand despite a tight funding environment.
Technical Brief
- Joint venture structured as a 50/50 equity partnership between Ballymore and Penta Real Estate.
- Combined gross development value for the two schemes exceeds £700m, indicating substantial capex commitment.
- Cuba Street tower’s 52-storey height will drive high-rise foundation, core stability and vertical transport design complexity.
- The Capston delivers 247 apartments split across two mid- to high-rise blocks of 11 and 22 storeys.
- Both Cuba Street and The Capston already hold planning consent, removing a major pre-construction risk.
- Penta has established a dedicated London office to manage UK delivery and interface with Ballymore.
Our Take
Within our 213 Infrastructure stories, London schemes with a gross development value above £700m are relatively rare, signalling that the Cuba Street and The Capston JV sits in the top tier of current UK urban regeneration plays by scale.
A 52‑storey residential tower at Cuba Street places this project among the taller new-builds in Canary Wharf, which typically triggers more complex foundation, wind, and vertical transport engineering than mid‑rise London housing schemes in our database.
The 50/50 JV structure between Ballymore and Penta Real Estate UK suggests risk and capital are being evenly shared, a pattern seen in only a subset of the 530 tag‑matched ‘Projects/Contract Award’ pieces, where many London residential deals skew towards majority‑minority ownership splits.
Prepared by collating external sources, AI-assisted tools, and Geomechanics.io’s proprietary mining database, then reviewed for technical accuracy & edited by our geotechnical team.
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