Joint developers Grosvenor and Hongkong and Shanghai Hotels plan to replace the existing 1950s and 1960s offices with a £500m luxury hotel and high-end apartments.

Construction information specialist Glenigan is reporting McAlpine as winning contractor on the high-profile project.

Designed by British-based Hopkins Architects, the developers aim to start construction in summer 2017.

The landmark hotel and 28 apartments scheme is planned as a sister hotel to Hong Kong’s acclaimed Peninsula, and will boast a 30m square internal ‘Palazzo-style’ courtyard.

Sir Robert McAlpine was unavailable for comment.