The Times reports that Stamford Street-based magazine publisher IPC has entered talks to lease space at Bankside 123 in Southwark Street.
It was reported last year that IPC was considering a move to allow refurbishment of its ageing Kings Reach Tower HQ.
Bankside123 is a development by Land Securities on the site of St Christopher House, an unattractive government building dating from the late 1950s. It was described by the former arts minister Baroness Blackstone as "a demoralising place to work".
IPC's board met in December to decide a shortlist of two sites for its 300,000 sq ft requirement in SE1. Along with Bankside 123 the company was considering the Will Alsop Palestra scheme in Blackfriars Road; the Foster-designed redevelopment of the former Sainsbury's HQ at 10 Blackfriars Road; and More London near Tower Bridge.