The site, on Queenstown Road, between Battersea Park and the Power Station site, has been home to a commercial office building for some years. Now it will be demolished and redeveloped as residential.
As well as homes, the new Marco Polo House development will provide more than 1,200sqm of commercial space for new shops, cafes, restaurants and offices. A new pedestrian walkway will run through the development alongside a public garden, public courtyard and outdoor children’s play areas.
Sixty-eight of the 456 apartments will be marketed through shared ownership.
The developer has agreed to pay a section 106 of more than £12million towards the hoped for two new Northern Line stations, and an expansion of the Barclays Cycle Hire Scheme. They will also pay £2.5m for affordable housing programmes in other parts of the Nine Elms regeneration area.
Wandsworth Council’s planning chairman Cllr Nick Cuff said: “This scheme would create hundreds of new homes and provide almost £12million towards improving local services and infrastructure.
“Nine Elms has begun to transform on an enormous scale. Building work is already underway on several major schemes and more planning applications will soon be coming forward.
“The Government’s commitment to extending the Northern Line has reinforced investor confidence and it won’t be too long before a new residential and business district has taken shape.”
The Nine Elms and Vauxhall opportunity area includes 450 acres of land between Battersea Park and Lambeth Bridge on the south bank of the Thames. The London Plan anticipates up to 16,000 new homes and 25,000 new jobs will be created here as the area is redeveloped.
Work is now underway on major development schemes including St George’s Vauxhall Tower scheme and St James Group’s Riverlight development. Enabling works are also underway on the site of the new US Embassy which is expected to open in Nine Elms in 2017.
The area also includes Battersea Power Station which has planning permission for more than 4,000 new homes and a new town centre development.
Other major schemes include Parkside, Embassy Gardens, The Garden at New Covent Garden Market, One Nine Elms, Sainsbury’s Nine Elms, Vauxhall Island, Vauxhall Square, Sky Gardens, Hampton House, 30-60 South Lambeth Road, and Black Prince Road. More redevelopment proposals have been unveiled recently including National Grid’s plans for a mixed use scheme on the Battersea Gas Holders site.