The Red House Cold Store, which was listed in March, has been written out of a new planning application by Thornfield Properties for the controversial site.
The architect has scaled back its contentious designs by some 20,000m 2after taking the listing decision into account.
Crucially, an existing application which includes the listed former cold store is still lodged with the Corporation of London. It is thought this will go ahead if Thornfield's attempts to overturn the listing decision are successful.
KPF president Lee Polisano said: 'It is possible to take the constraints on a site such as 43 Farringdon Street and use them to create exciting architecture that significantly enhances an area.'