The project team behind the Tulip is expected to decide in the next few weeks whether to return to the drawing board or give up on the project entirely after it was turned down for planning by the government yesterday.

Several sources have told Building Design that the team, which includes developer Bury Street Properties, run by Brazilian billionaire banker Joseph Safra, and architect Foster & Partners, will be speaking to government in the coming days about how the scheme can be made to work.

One said: “We have to reach out and find what is acceptable. We’re going to sit back and work very hard about what to do next [and see] how this plan can be made to work.”

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