The mixed-use development, called Principal Place, will contain 243 luxury flats and around 590,000 sq ft office space.

It marks the latest scheme in a growing pipeline of work for the capital, which is fed by growing office rents and demand for top-end apartments.

The latest plan is a revision of the controversial Bishops Place on Shoreditch High Street which attracted extensive local opposition.

It is understood that Hammerson will seek a pre-let on the Foster and Partners designed building before formally launching development.

Martin Jepson, Hammerson London managing director, said: “The evolution of the scheme means we can now offer a high quality differentiated office product to City occupiers at a time when there is modest supply for this type of building.”