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The UK arm of Japanese developer Mitsui Fudosan has teamed up with Grosvenor for the first time on a £500m mixed-use scheme in London’s upmarket Mayfair.

Mitsui has worked with Stanhope since 2008 but has now linked up with the Duke of Westminster’s property group for its debut job.

The joint venture will focus on the North and South blocks of the Hopkins Architects-designed proposals for the development called the South Molton Triangle.

The offices run between Davies Street and South Molton Lane, with the South block also facing onto Brook Street, and will include 263,000 sq ft of floor space as well as retail and food and drink outlets at street level.

Hopkins took advice from historic buildings expert Donald Insall Associates and is aiming to keep a significant proportion of the existing facades or rebuild them to match the current designs.

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Located opposite the new Bond Street Elizabeth Line station, the full plan for South Molton Triangle will also see four grade II-listed town houses converted into a hotel and a row of listed Georgian office buildings retrofitted to create 33 homes.

The Running Horse pub on Davies Street will also be refurbished, while £8m will be invested in improving the public realm, with BDP overseeing the design of the latter.

Grosvenor said it will oversee the delivery of these parts of the project on its own.

The wider project team also includes AKT II as structural engineer, Hoare Lea as M&E consultant and Gleeds as quantity surveyor.