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Five bidders have made the shortlist for a high-profile scheme in central London to turn the former home of Cancer Research UK into a new building for the London School of Economics (LSE).

Kier, Laing O鈥橰ourke, Mace, Sir Robert McAlpine and Skanska are all understood to be in the running for the 拢140m deal at 44 Lincoln鈥檚 Inn Fields.

Westminster city council gave the building the green light last week. It has been designed by Irish practice Grafton Architects, which saw off a shortlist that included Herzog & de Meuron, Amanda Levete鈥檚 Al_A and David Chipperfield.

The team includes: AKT II (structural engineers); Gardiner & Theobald (project and cost manager); Chapman BDSP (MEP consultant); and Turley (planning consultant).

Meanwhile specialist contractor McGee has picked up the demolition contract due to begin later this year with the building expected to be completed in early 2021.

A spokesperson for McGee said: 鈥淲e have been fortunate enough to secure the project and are looking forward to working with LSE and their professional team.鈥�

The building will be known as The Marshall 好色先生TV - after hedge fund manager Paul Marshall, who is worth an estimated 拢300m.

Two years ago, Marshall gave 拢30m - the university鈥檚 largest private donation - for the creation of the Marshall Institute for Philanthropy and Social Entrepreneurship.

The LSE bought the eight-storey building in 2013. Its replacement will house the academic departments of accounting, finance and management and research centres, including the Marshall Institute. It will also contain teaching, sports and arts facilities.

The LSE, Kier, Sir Robert McAlpine have been contacted for comment. Laing O鈥橰ourke, Mace and Skanska declined to comment.