Prudential has been granted permission to demolish 30-34 The Broadway at Ealing in west London, which was badly damaged by a terrorist bomb in August last year.
The London Borough of Ealing has granted planning permission for the redevelopment, and reconstruction should be completed by October next year.
Prudential director Tony Bennett said: 'The new building will be three storeys with retail on the ground and first floors, and offices above.
'The frontage will be contemporary and dramatic, but at the same time sensitive to the architecture of neighbouring properties. A number of well-known retailers have already expressed interest.'
Prudential owns 25-37 and 39-40 The Broadway, Ealing, and a number of other retailers suffered in the blast. Reed, Oasis, Accessorize, Toni & Guy and The Link have all re-opened and Carphone Warehouse is scheduled to re-open later this month.
Prudential is advised by King Sturge on both architecture and planning.