Property developer CLS Holdings has secured approval from the London Borough of Lambeth for its £500m mixed-use development scheme in Vauxhall, London, UK.
Vauxhall Square is a three-acre development site between Wandsworth Road and Bondway, which is owned by CLS’ subsidiary Vauxhall Cross.
Designed by architects Allies and Morrison, the 143,000m² scheme will feature two 50-storey residential towers containing 520 new homes, of which 410 will be for private use and the remaining 110 for affordable housing.
The scheme will feature 22,732m² of offices, 3,119m² of retail space, a 278-bedroom hotel and a 123-suite hotel.
The development will also feature a 50-bedroom new hostel for the homeless, 359 student rooms, a 3,777m² multi-screen cinema, associated community facilities, and a new public square alongside public realm improvements.
Proposals for the site have been developed in February 2011 and a planning application was submitted in December 2011.
CLS Holdings chief executive officer Richard Tice said, "The project is expected to create over 5,000 construction jobs, 2,000 permanent jobs, and deliver more than £500m of inward investment into the Vauxhall area."
Construction work is anticipated to start in 2015 and discussions on phasing, design, pre-letting and funding options are set to progress immediately, according to CLS.
CLS has also secured approval from the Solna Municipal Assembly in Stockholm, Sweden, for its 150,000m² mixed-use scheme in Sonla.
The mixed use-scheme in Solna includes approximately 800 new apartments and 70,000m² of commercial space.
Image: The 143,000m² Vauxhall Square mixed-use scheme will feature two 50-storey residential towers containing 520 new homes. Photo: CLS Holdings.