The major overhaul designed by architect Fletcher Priest will see another floor added to the building to create a nine-storey commercial office.

This extra level will provide additional office space, a winter garden and a large green roof terrace.

The scope of the retrofit includes a double-height lobby, a new secondary entrance, an upgraded façade and new MEP services to create an all electric building based on air-source heat pumps with photovoltaics.

MEAG is in talks with an unnamed contractor and plans to start work next Summer.

Katja Rincker, Head of real estate Development at MEAG: “As an equity-strong investor we are able to implement developments in challenging times to deliver sustainable value.

”Sustainability and whole life carbon assessments have been a key consideration in retaining 90% of the existing structure, including the Portland Limestone load-bearing façade. Moreover, market-leading certifications such as BREEAM ‘Outstanding’ , WELL ‘Platinum’, and NABERS are targeted.