A business complex and 402 flats will be built on a site next to a river.
Workspace Group PLC has been given planning consent for the £20million redevelopment of two next door properties which it owns at Riverside and Garratt Lane, in Wandsworth.
The 5.4-acre site, worth £46m, currently has 145,000sqft of office, leisure and light industrial space.
The planning consent is for a new 106,000sqft business centre and 65,000sqft of new light industrial space, both in Garratt Lane, and 402 residential apartments set back from the road along the River Wandle, including 35 per cent affordable housing.
Graham Clemett, chief executive of Workspace, said: “This planning consent is a great example of our employment-led regeneration approach in an area we know well.
“It will create a vibrant destination for businesses of all sizes, alongside delivering much-needed well-designed apartments attractively located alongside the River Wandle.
“These projects are a key part of our growth strategy, expanding our footprint and generating increased value for our shareholders and the communities we serve.”