According to Bloomberg, Axa Investment Managers-Real Assets will give the project’s co-investors three alternatives to proceed with the scheme: start construction this year as planned; delay; or sell it.

Although, sources have told Bloomberg that latter option is the least likely.

The other investors backing the scheme include Singaporean Temasek Holdings Pte, Canada-based Public Sector Pension Investment Board and British Columbia Investment Management Corp.

If the investors opt to go-ahead with construction this year, the contract could be signed as early as October, according to Bloomberg.

AXA IM – Real Assets chief executive Pierre Vaquier told Bloomberg ahead of the vote to leave the EU on 23 June that he was awaiting the outcome of the referendum before deciding on whether to proceed with the tower.

22 Bishopsgate is being developed in partnership with Lipton Rogers, with Brookfield Mulitplex attached to the project in a pre-construction service agreement.

The project replaced the previous Pinnacle scheme, for which construction began in 2008 and suspended in 2012 after the recession.

The new designs include a 278 m tall tower – 10 m lower than the previously approved scheme – with 130,000 sq m of office space.

An AXA IM – Real Assets spokesperson said: “We remain committed to the site, we are continuing to work and we are considering all our options.”