Under the plans 1970s office building Fielden House will be demolished to pave the way for a new 160,000 square feet tower to comprise 150 flats as well as shops. The scheme has been designed by architect Renzo Piano, which also designed the Shard, and includes a roof garden at the top.
The project is part of the wider 2 million sq ft London Bridge Quarter redevelopment of the area.
"This exciting project continues the regeneration of the area around London Bridge station, building on the success of both the Shard and the Place as well as the significant improvements we have already made to the station concourse and bus station," said Sellar Group chief executive James Sellar.
"We believe the proposed development will not only further enhance London Bridge Quarter in its present form but will substantially elevate the public realm surrounding the transport hub and complement the redevelopment of the station which is due to complete in 2018," he added.
The developer said it would submit a planning application for the scheme "shortly".
