The firm will now work up logistics and procurement plans making it favourite to win the £150m main contract to build the Madison Tower, due to start later this year.

Designed by architect Make, the tower of 423 luxury flats on a hexagonal floor plate will boast a private residents’ club on the 16th floor with lounge bar, gym, meeting and screening rooms, as well as a spa and pool area on the lower ground floor.

Designed by architect Make, the luxury flat block will rise to 187m and is based on a elongated hexagonal floor plate

The tower will be built on Marsh Wall next to Canary Wharf

WSP is the structural engineer with Hoare Lea, the M&E consultant and Core Five, project cost consultant.

The job would rank as Balfour Beatty’s tallest project in the UK  and comes at a time of deepening concern about the market for high-end flats in the capital.

Dean Banks, managing director of Balfour Beatty’s UK Construction Services business, said: “We look forward to securing the full award in the summer and to delivering this iconic structure.”

Balfour Beatty will begin enabling works this February prior to full contract award with completion of the development scheduled for late 2019.