Under the plans, the existing York House office building will be demolished and a new tower will be built to accommodate 1,093 students. The new building will also comprise a 65,000 square feet school, 4,000 sq ft of space for start-up businesses, a gym, swimming pool, cafe and public realm improvements.
The Council's planning officers said in their report (47-page / 332KB PDF) to the committee that the proposed development would offer a "significant contribution" towards addressing London's student housing needs and that it was in accordance with the London Plan's expectations that local authorities would give "strong support" for higher and further education institutions.
The officers said that the existing office building was "surplus" and that the current market for second hand office space in the location of the development site would "not secure rents that would warrant refurbishing the building in its existing frame".
‘We are delighted to get a resolution to grant planning permission from Lambeth Council to deliver this world class student accommodation-led scheme in such an impressive location," said urbanest managing director, Johnny Manns.
"The mix of student residential, business, education and leisure uses all on one site will provide a welcome boost to the local economy and deliver an important element of the wider regeneration of the Waterloo area."
"Globally, London is one of the major centres for educational excellence and we are sure that urbanest can complement the educational experience with an unrivalled living experience for students in the capital," Manns said.
Urbanest said it hopes the scheme will be completed for the start of the academic year in 2015.
