A planning application has now gone in to Westminster council for the 320,000 sq ft scheme at the junction of Bishop’s Bridge Road and the Grand Union Canal.
The building will incorporate access to Crossrail, National Rail and Hammersmith & City line services at Paddington.
Ian Lindsay, Crossrail Land and Property Director said: “This major new commercial development will play an important role in the continued transformation of Paddington.
“Crossrail is the first UK rail project to deliver an integrated package of new and improved rail infrastructure alongside high-quality over-site development and public realm improvements which will boost urban regeneration.
“This development will signal the completion of a further phase in the renaissance of Paddington as a major commercial location.”