The developer bought Marble Arch House on Edgware Road from rival Portman Estate for £18m and plans to build an office and luxury apartment blocks on the site.
According to a source close to the project, McLaren has beaten rivals Wates and Bam Construction, although there has been no official confirmation.
The new development, which has detailed planning consent, is expected to cost £40m to build and has been designed by Bennett’s Associates Architects.
McLaren will build around 75,000 sq ft office and ground floor retail space with a adjacent building of 10 luxury residential apartments with a 5,000 sq ft restaurant at ground level built behind the retained Victorian facade of 62-64 Seymour Street.
The project aims to surpass Part L carbon emission requirements by up to 40%.