UK-based construction giant Laing O'Rourke has been named as the preferred bidder by real estate investment trust Derwent London for the redevelopment of Brunel Building at 55-65 North Wharf Road in Paddington.
Expected to cost around £50m, the project will include construction of a new 16-storey office building.
The building, which will feature two basement levels and two large roof terraces, will be have a solid concrete core along its length with floor plates on either side.
Total floor space available is planned to be 240,250ft² and will feature an innovative diagrid design allowing for flexible column-free floors.
Designs for the building have been prepared by Fletcher Priest Architects, and are incorporated with environmental elements and technology.
Laing O'Rourke (Europe) managing director Paul Sheffield said: "We are delighted to have been named preferred bidder on such a significant project in the area.
"Having worked successfully before with Derwent London we are very much looking forward to working in close collaboration with them again to ensure the successful delivery of the project."
Derwent London property director Simon Silver said: "Paddington's success was founded on the genius of Brunel.
"We are confident that, with the Laing O'Rourke team, we will develop an innovative building fit for the next stage of Paddington's regeneration with the opening of Crossrail in 2018."