The project was part of a wider Urban Gateway regeneration, but has now been dropped by Land Securities, which claimed the design 'wouldn't work'.
According to Land Securities, AFR's design was not the reason for the project being shelved, but the decision was due to the wider Urban Gateway scheme being affected by planned work on the South Circular.
Baillie said: 'There was no problem with the design, it is just that the brief for the Gateway scheme has changed. We are now hoping to come up with a new design strategy to develop a new Gateway scheme.
'We have spoken to Chapman Taylor and Hamiltons Architects to look at other options; we're still very much on the case.'