The £1.5bn scheme has been designed by Herzog & de Meuron for the joint venture which included Network Rail and rail operator MTR.

A proposed 16-storey block above the station concourse will comprise 6-floors for a new Andaz hotel with rooftop sky garden and swimming pool sitting above 10 floors of offices.

These 800,000 sq ft of office and 160,000 sq ft of hotel space will fund £450m of vital station upgrades at no cost to the tax or farepayer.

The plans will also create a modern station entrance on Liverpool Street simplifying access and passenger flow to the lower station concourse.

Passengers are at the centre of the proposals, and the design allows the station to remain open and operational throughout all phases of the project construction.

The project also sensitively protects and celebrates the station and existing hotel’s unique historic features. The Victorian trainsheds will be restored and will not be touched or built over as part of this project.

The former historic Grade II listed Andaz hotel, which originally opened as the Great Eastern hotel in 1884, will also be sensitively restored.

Its historic rooms, including the masonic temples and ballroom, will be made more accessible to the public, providing unique meeting, leisure, and exhibition space.

The scheme will also provide a public rooftop garden  and a four-lane, 25m City Lido heated by surplus heat from the offices that will allow swimmers to enjoy open-air swimming all year round and a padel court will become the first in the City of London.

Both will be available to the public, including local schools; and a rooftop café, with outstanding views over the City and to St. Paul’s, will also be open to visitors.

James Sellar, chief executive at Sellar, said: “Our entire approach prioritises protecting and enhancing the historic elements of both the Great Eastern Hotel and of the station itself. The original Victorian railway sheds at Liverpool Street station will not be touched but will be celebrated by opening up new views to and through them.”

A decision by the City of London Corporation is expected in 2024.