The shortlisted teams are: Architect DSDHA, US group EDAW, Lab Architecture Studio and Lifschutz Davidson Sandilands.

Each will compete for the opportunity to design an attractive, pedestrian-friendly public space with the potential to harbour retail and leisure development.

The South Bank Employers' Group, on behalf of the Waterloo City Square Implementation Group, has whittled 26 entries down to these four, following a tender process run through the Official Journal of the European Union.

The shortlisted four are now preparing concepts to be showcased at a public exhibition later this year, before the final design is chosen.