St James, which is currently building the Riverlight development on Nine Elms Lane, plans to create around 750 new homes on the former gasworks. A planning application is expected to be submitted to the council in late 2014.
Last year St James purchased the Marco Polo House site which neighbours the gasholders.
Ravi Govindia, leader of Wandsworth Council and co-chair of the Nine Elms Vauxhall Partnership, said: “Another piece of the Nine Elms jigsaw is now in place and we can look ahead with confidence to this important site being transformed into new homes and business space.
“The gas holders occupy a key location between Battersea Park and the new town centre and tube station being created at Battersea Power Station. New pedestrian routes through the gas holders site could be hugely beneficial for all concerned.”