The existing eight-storey building will be entirely refurbished and the multimillion pound proposals include redesigning and extending the entrance to improve the project's 'street presence'.
Project architect Romi Dahele said: 'We are genuinely excited about the scheme. We are keen to create a dramatic streetscape that will excite people.
'We will also make the entrance more approachable.'
The AJ understands the east London-based practice is considering a variety of uses for the building and wants to start on site towards the end of next summer.