A $200 million high-rise will sit right beside Auckland's landmarks as a Melbourne-based architect wins a bid for the development to be built.

Photo: Supplied

The 48-level tower, designed by architects Woods Bagot in partnership with New Zealand firm Peddle Thorp, will stand around 180m high.

Located at 65 Federal Street, near the Sky Tower, the building will have 226 apartments, a 233-room 5-star hotel, a rooftop garden, and a ground floor "Market Place".

A competition was run by Melbourne-based property development company, ICD Property, to find a new high-rise for the city.

The competing architects each created two designs for the competition, the first following current city planning rules and the second showcasing what could be built with more liberal planning parameters.

The five finalists, [https://www.radionz.co.nz/news/national/365860/finalists-announced-in-competition-to-design-landmark-auckland-tower announced last month, included Warren and Mahoney, Zaha Hadid, Cox Architecture, Elenberg Fraser.

Photo: Supplied

ICD managing director Michael Mai said this project would bring an international standard of high-rise living to Auckland.

"We see this tower as an opportunity for Auckland to set a new benchmark for quality and liveability, and it will be a project that is led by design excellence to achieve better urban design outcomes, not just for New Zealand, but around the world."

The development was world-class and would help fuel Auckland's tourism, he said.

"We want to build a building that stands the test of time. It's really going to bring a greater focus on Auckland itself as a destination internationally."

In a statement, Woods Bagot principal and design leader Peter Miglis said the rooftop Zen Garden and inclusive public space were key aspects because they reflect the of the street.

"Through Federal Street's transformation into a pedestrian laneway, it has the potential to become a public destination, like a town square or public plaza, and that's very much what we had in mind with the idea of a Market Place."

The project is expected to be completed around 2022.