The firm said the residential-led scheme, which obtained revised planning consent last month to replace a four-star hotel for more office space, would be delivered in two phases with a residential specialist brought in to deliver the luxury flats element.

Sten Mortstedt, Executive Chairman of CLS, said: “Our current intention is for the main site to be developed in two phases, the first of which could start in 2017 with the demolition of some existing buildings and the construction of a three storey basement, including 188,370 sq ft of Grade A offices and a residential tower.

“We are working towards focusing on the commercial part of the scheme in which we have an established track record, and are considering finding a specialist partner for the development of the residential element.”

The amended 1.6m sq ft scheme will now comprise 454 apartments in two 50-storey towers and 124 affordable apartments, 353,300 sq ft of offices, a 186-suite hotel, shops, a multi-screen cinema and a hostel.

The flagship site within the Nine Elms development area also contains a car park site that was sold to specialist developer and operator of student accommodation, Urbanest last year.

This has planning consent for a 454-bed, 30 storey student tower where work is expected to begin on the site later this year.