A planning application by Braeburn Estates to redevelop the Shell Centre on London's South Bank has been approved by the London Borough of Lambeth.

The 1.45 million sq ft mixed use scheme is a is a joint venture between the Canary Wharf Group and Qatari Diar and will transform the 1960s office site, providing new offices for Shell and other corporate organisations as well as hundreds of new homes and new retail outlets.

Ed Daniels, Country Chair, Shell UK, said: "This approval is an extremely positive step for a development that will not just regenerate Lambeth and provide vitality to the local community, but also secure the long-term future for Shell and its London based staff on the South Bank."

The 27-storey Shell Tower will remain the centrepiece of the new site, and will continue to be owned and occupied by Shell, however a mix of offices, homes and retail space in eight new buildings creating a further 245,000 sqft of new offices and trading floors for Shell and will integrate with open and attractive public areas.

Approximately 800,000 sqft of office space (including the Shell Centre Tower), along with around 80,000 sqft new retail units, restaurants and cafés, will be accompanied by approximately 800,000 sqft of residential space incorporating up to 877 new homes, including affordable housing will be created.

Khaled Al Sayyed, Qatari Diar Group Chief Executive Officer, said: "Our development will be a unique place to live and work in the centre of London, providing locals and visitors alike with much needed public space, entertainment and culture."

The development is planned for completion in 2019, with construction starting at the end of this year and will employ an average of 700 workers on-site rising to approximately 1,630 at the peak of construction.

Under the approved plans, new pedestrian routes through the site will improve connections between Waterloo Station and the South Bank. A widened Chicheley Street will open up the approach to the London Eye, while a 'city square' at the heart of the scheme will provide open space and enhanced public realm.

Upon completion the two new commercial buildings in the proposed redevelopment will accommodate approximately 4,120 office-based jobs, up to 295 retail jobs, and around 50 jobs in the community and leisure areas, totalling up to 4,465 jobs.