The developer has submitted plans to convert the 101m high Portland House office building into 206 luxury apartments above ground floor shopping.

The job is the biggest of several new office conversion schemes planned by Land Securities in the capital.

Last month it submitted plans to convert a 1960’s Oxford Street building into 89 apartments above reconfigured prime retail accommodation.

The latest scheme, which has been designed by  architect Sir David Chipperfield, is also linked to the delivery of 63 affordable homes at nearby Castle Lane, for which planning consent has already been granted.

Colette O’Shea, head of development for the London Portfolio, said: “The planning application we are bringing forward is an exciting opportunity to bring new life to a landmark building in the heart of Victoria, in tandem with the rest of our planned regeneration in the area.

“By completely remodelling the building, we will provide a residential building of exceptional design and quality which will include facilities for its residents.

“This is the latest and largest of our residential development projects, which will have a hugely beneficial impact on the whole of Victoria.”