Filmmaker Andrew Haigh, the man behind acclaimed films Weekend and 45 Years, is in line to direct the film.

The script has been written by playwright Chris Urch, according to Variety. Urch's most recent work, The Rolling Stone, enjoyed a run in London's West End earlier this year.

O'Connell broke into the acting world with his lead role as Cook in Channel 4's teen drama Skins. He has since gone on to have critical-acclaimed performances in films such as Starred Up, '71, Money Monster and Angelina Jolie's directorial debut, Unbroken.

Alexander McQueen began his influential career as an apprentice working on London's Savile Row before going on to achieve success by becoming head of French luxury brand Givenchy and tailoring David Bowie on his tours in the Nineties. He tragically committed suicide in 2010.

The biopic will come from producer Damian Jones who oversees upcoming adaptation A Street Cat Named Bob starring Luke Treadaway and Downton Abbey's Joanne Froggatt).