US co-working juggernaut WeWork is poised to take space in the London Stores building in the Bourke Street Mall as its second office location in Melbourne.

The 5000 square metres of office space overlooks the busy shopping thoroughfare, on the corner of Elizabeth and Bourke streets, in the heart of the city.

Co-working business WeWork is set to lease space in the London Stores building in the Bourke Street Mall. Credit:Eddie Jim

The deal will wrap up one of a number of leasing mandates in the Melbourne market, the biggest of which is banking giant NAB's 50,000 sq m requirement.

Pundits suggest NAB is looking at Brookfield Property Partners $800 million tower at 405 Bourke Street or a move out of its traditional territory to Charter Hall's Wesley Church tower at 170 Lonsdale Street.