The building, north-east of the Canary Wharf tower on Canada Square, is due to be completed at the end of next year for Canary Wharf Group.
It will be linked to the existing Canada Place shopping mall, the Jubilee Line Extension and Docklands Light Railway stations and completes the network of offices surrounding Canada Square.
The design incorporates three 4000 m² trading floors. Structural engineer is Cantor Seinuk, Hilson Moran is building services engineer. QS is Canary Wharf subsidiary Canary Wharf Contractors.
The move coincides with plans for two shopping and leisure centres in the area.
The first, an 18 000 m² five-storey building at the eastern end of Canada Square, is being designed by Chapman Taylor Partners and Zeidler Roberts. Chapman Taylor is handling the interior and Zeidler Roberts the exterior.
The development, which is also linked to Canada Place mall, includes a department store, a health club, large retail and food stores and two roof-top restaurants. Clearing work has started.
Canary Wharf Group chairman Paul Reichmann said the completed buildings around Canada Square would see the estate grow to almost 900 000 m².
We believe the buildings will be a stunning addition to our portfolio
Paul Reichmann, Canary Wharf Group Chairman
He said: "We believe the buildings will be a stunning addition to our portfolio."
Reichmann said speculative development was a key part of the firm's strategy. "Our policy is to have a new building under construction at all times and to offer the opportunity for early delivery of large buildings in a market that is in short supply."
A second retail development is planned for Heron Quays, south of the Canary Wharf Jubilee Line station. Canary Wharf Group said it was working with an architect on plans but declined to name the practice. However, sources close to the project have hinted that Building Design Partnership and Sheppard Robson are in the running.
A source said both retail projects would be design-and-build. Together, they would be worth at least £100m. He said: "This is going to be serious retail, not just candy floss. It is a major advance for the area."
Canary Wharf also announced that Canary Wharf Contractors has won an £85m contract to fit out the 42-storey HSBC tower in Canada Square.
Canary Wharf Contractors vice-president, development and construction, John Pagano said he was delighted at winning the deal. He said: "We believe that our unique position in the marketplace in being able to offer a seamless integration of shell and core and fit-out construction was instrumental in our success."
