Singapore-based developer KOP Properties has received planning permission to convert the landmark 10 Trinity Square building in central London into a new luxury development.

Work is expected to get underway on the transformation of the Grade II*-listed property during the third quarter of this year, with the Woods Bagot-designed project also involving Beijing, China-based Reignwood Group.

A 120-bedroom hotel; a spa; a members' club; 41 serviced residences; a restaurant; and two bars are planned as part of the development, which is due to be completed in Q4 2014.

Further details of the spa are yet to be announced, although it has been confirmed that LTW Designworks will be responsible for its design. KOP Hotels and Resorts will run the hotel.

David Collins Studio is consulting on design of the hotel's public areas, bar and members' club at the building, which opened in 1922 as the Port of London Authority's headquarters.

KOP Properties chief executive officer Leny Suparman said: "Our vision is for 10 Trinity Square to become a new global destination in of the City of London, with a very British DNA and a timeless, classic appeal.

"Surrounded by old world elegance and new age luxury and with unrivalled views of the London skyline, 10 Trinity Square really will be the ultimate destination address in the City."

Details: www.kopgroup.com