Tenders are expected to be invited in the coming months for the £500 million tower dubbed the ‘Boomerang’ on Blackfriars Road.
The skyscraper got final planning approval last week, with 300 construction jobs expected to be created by the project.
The 170m tower Beetham Mirax Tower, also known as One Blackfriars, will house a six-star 261-room hotel, complete with ballroom, meeting rooms, a number of restaurants and bars, a high-tech spa, health and leisure facility and a public viewing platform at its highest level.
It will also house 64 apartments and a skydeck.
The reinforced concrete tower will be doubled skinned with the outer layer of glass highly transparent and a solid layer of cladding under it with winter garden areas inbetween.
Every flat and hotel room will have their own internal conservatory space as with 1 Deansgate in Manchester.
The building tapers in at the bottom while the top of the tower will contain a viewing platform open to the public.
At its base will be a wrap-around plaza, with cafes, restaurants and shops.
Ian Simpson Architects designed the tower, following on from landmark schemes with Beetham Organization in Manchester and Birmingham.
Communities Secretary Hazel Blears gave the stamp of approval last week.
Planning consent was initially granted by Southwark Council last year, subject to the approval of the Secretary of State and English Heritage over concerns the building was too tall.
The developers, Beetham Organization, consulted with English Heritage and agreement was reached to reduce the height from a 70 storey 220m building to 52 storeys at 170 metres.
English Heritage had warned that the Beetham Tower could have a “harmful and intrusive” impact on London’s historic environment.
But for the delays caused by the public inquiry the tower would already be under construction.
The approval has been met with anger from Mayor of London Boris Johnson who said Ms Blears has “a worrying appetite for calling-in decisions that are best taken at the London level”.
He described the decision to approve the skyscraper as “regrettable”.
Beetham Organisation chairman Hugh Frost said: “This is a much needed boost to London.
“The development is a vital part of the regeneration of the south bank of the Thames, creating an iconic landmark and tourist destination, as well as providing jobs and a total transformation for the area.”
Ms Blears also approved the £100 million plans for two further towers on Blackfriars Road.
The 20 Blackfriars Road project was designed by Wilkinson Eyre for Land Securities.
It’s a twin tower proposal with the tallest building being a 141m residential tower and the shorter building being a 98m office block.