The new tower is planned to be built near the existing 12-storey Wade House and forms part of wider plans for the phased redevelopment and refurbishment of the Merrion Centre to make it a mixed-use destination.

The proposed new building will sit above the Home Bargains store and offer 170,000 sq ft of offices over 16 levels.

New central office block plan at the Merrion Centre

A four-storey disused cinema building, currently known as 100 Merrion Centre, will be demolished to make way for the commercial block.

Edward Ziff,  chief executive of TCS, said: “We have identified considerable latent opportunity within our Merrion estate which we believe provides a platform for future growth.

“We firmly believe we are on the right track with Merrion and will continue to invest in and develop the asset, broadening our offer and delivering more for Leeds from this important mixed-use city centre destination.”

The client team includes architect Enjoy Design, cost consultant Rex Procter & Partners and Adept Civil & Structural Consulting Engineers

Ziff added: “A critical pillar of our strategy is to create long term future value by building a significant development pipeline.

“Our pipeline now has an estimated development value in excess of £600m.”

Last month GMI Construction completed the developer’s joint venture PRS scheme Burlington House in Manchester.