Subject to contracts, TfL will now work with Native Land and preferred architect Rogers Stirk Harbour and Partners, to develop proposals for the site.
The development including step-free access to the District and Circle line could be complete in 2022.
Plans also include the potential to build an extra storey on the distinctive Bullnose building and create new opportunities along TfL’s stretch of land on Pelham Street.
The site also includes the main station entrances through the Grade II listed shopping arcade, which will be restored to its original state, and a second entrance via a Grade II listed pedestrian subway.
This should release vital funds to provide step-free access to the District and Circle line via a new station entrance on Thurloe Street.