Developer Hines wants to build two residential towers of 40 and 22 storeys and an office building reaching 45 storeys and topping out at nearly 200 metres.
The 18 Blackfriars Road office tower promises “a new form of architecture” departing from the traditional flat tower office building.
Ross Blair, Senior Managing Director and Country Head of Hines UK, said: “We’ve been working hard with our architects, the local community and other key stakeholders to bring this land, which has been undeveloped for 20 years, back to life.
“Occupiers are demanding more from their spaces to attract and retain the best people, the lines have blurred between workspace, wellness and leisure, and our design truly responds to these needs, offering an inspirational mix of spaces that foster collaboration.
“In many places around the world, Hines has successfully delivered environments which connect with the local community through a rich arts and wellbeing programme for the benefit of generations to come.
“The significant investment we are planning underlines our firm belief in London, and its enduring appeal as a global centre for business.
“We believe that our proposals for 18 Blackfriars Road will add significant value to the already established growth story of the Southbank and Bankside neighbourhoods, and as a long-term owner and operator we are deeply invested in the future success of the site and the benefits it will bring to the Southwark community.”