Ellison Institute of Technology, named after Larry Ellison, planning head office in Westminster

Foster + Partners has submitted plans for a high-profile scheme to build a new London headquarters for the Ellison Institute of Technology (EIT) set up by billionaire Larry Ellison.

The site at 11-12 St James’s Square in the upmarket Piccadilly area of the capital consists of grade II and grade II* listed buildings as well as an extension to the rear that was completed in 1990.

The scheme would retrofit the existing historic buildings and knock down the rear extension, adding new lifts, showers, cycle storage space, new glazed facades and terraces and reinstating a historic garden at ground level.

The job, which has been described as “very high spec”, is understood to have a price tag of around £120m.

Other firms working on the plan, which was sent in to Westminster city council earlier this month, include development manager Edit, planning consultant Avison Young, heritage consultant Donald Insall Associates and project manager Ridge.

Ellison, who is co-founder of the US tech giant Oracle Corporation, is the world’s fifth wealthiest person, according to Bloomberg, with a net worth of $250bn (£186bn).

EIT, which describes itself as multi-disciplinary science institute, is helping mastermind a £300m science research facility in Oxford that has been designed by Fosters with the first phase being built by Laing O’Rourke.

Building Design understands Sir Robert McAlpine has beaten Multiplex for the main contractor role on the scheme.