A start date is yet to be confirmed for the scheme to build 370,000 sq ft of mixed-use space, including 350,000 sq ft of grade A offices, affordable workspace, roof terraces and enhanced public realm.

Landsec’s Head of Development, David Heaford, said: “We have completed a rigorous assessment process to reach this stage.

“We are delighted to be working with a globally-recognised contractor to deliver this exciting, sustainable development which focuses on connecting communities within a net zero carbon scheme.”

The development will retain 90% of the existing building and use a hybrid steel frame and timber structure, significantly reducing embodied carbon, construction traffic, demolition waste and local air pollution.

Low carbon and recycled materials will also be used across the scheme which is 10 years ahead of UKGBC net zero carbon targets for energy intensity reduction targets.

Céire O’Rourke, Director of UK Clients & Markets at Laing O’Rourke said: “We are excited at being appointed preferred bidder to deliver Timber Square, which is a bold and pioneering project with sustainability at its core.

“Our unique operating model, based on digital engineering, precision manufacturing at our factory in the east Midlands and assembly on site, will help us bring to life LandSec’s vision of modern buildings which support sustainable living and working in the heart of London.

“Our team will now bring the power of their experience to the table to work closely with the client team and make this stunning project a reality.”