Balfour Beatty is the frontrunner to create the 53-storey apartment block Madison Tower in South Quay .

The firm is thought to have put pen to paper on a pre-construction deal with developer LBS Properties which means it is likely to secure the £150million contract.

If successful, it will be the construction company’s largest project to date.

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Both logistic and procurement plans are now being drummed up, with work expected to begin on the Marsh Wall site this summer according to website Construction Enquirer .

The building will house 423 luxury flats on a hexagonal floor plate, designed by architect Make.

It will also boast a private residents’ club on the 16th floor with lounge bar, gym, meeting and screening rooms, as well as a spa and pool area on the lower ground floor.

Meanwhile, WSP has been appointed as structural engineer with Hoare Lea, the M&E consultant and Core Five, project cost consultant.