Designed by Allies and Morrison, the scheme will aim to remove a visual and physical barrier between the highly successful Tate Modern and the South Bank hinterland. The existing 1960's 13-storey office blocks provide 633,000 sf of offices but they are no longer in keeping with the rapidly improving location.

Mike Griffiths, Chief Executive of Land Securities Development said: "With the creation of the Globe and the Tate Modern there is a new focus to Bankside. We believe that our investment in the redevelopment of St Christopher House will contribute to the resurgence of the local tourist and business economy and create a sustainable community focal point in Bankside."

Subject to planning permission, work could start on site in 2003 with an estimated completion date of 2006. Montagu Evans is planning consultant to Land Securities and Jones Lang LaSalle is development advisor and letting agent.