The Greater London Authority has approved plans from Avanton to build 262 flats at the former Carpetright site on Old Kent Road, SE15.
Deputy mayor Jules Pipe has rubber-stamped the approval from Southwark Council last June.
The delay from the GLA forced Southwark to request a time extension for the decision to be issued.
Avanton and Urban & Provincial will develop the £130m scheme at 651 Old Kent Road. The scheme includes 40% affordable housing and 20,000 sq ft of commercial space.
The scheme is the third element of Avanton’s £795m regeneration masterplan for the area, designed to deliver more than 2,100 homes, with a proportion as build-to-rent.
Earlier this year, Avanton pledged £500m of investment into new London site acquisitions as part of a wider strategy to deliver 5,000 BTR homes.
To send feedback, e-mail emma.rosser@eg.co.uk or tweet @EmmaARosser or @EGPropertyNews
