Workspace Group has been given planning permission to redevelop two adjacent properties in Wandsworth, SW18, into a mixed-use scheme.
Plans for the buildings at Riverside and Garratt Lane include a new 106,000 sq ft business centre and 65,000 sq ft of new light industrial space, as well as 402 flats, of which 35% will be affordable.
Currently the 5.4-acre site close to Earlsfield station comprises 145,000 sq ft of office, leisure and light industrial space, with a rent roll of £2.5m.
The valuation of the property at the end of March was £46m.
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.”
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