The City of Westminster has granted planning permission to Great Portland Estates plc (GPE) for its proposed development at Rathbone Place, London W1.

The proposals for the 2.3 acre former Post Office site include a comprehensive development to provide new buildings totalling 414,000 sq ft, with a new public square and new pedestrian routes linking Rathbone Place, W1 and Newman Street W1, together with 42,000 sq ft of retail space, 217,000 sq ft of offices and 155,000 sq ft of residential in 162 units.

Neil Thompson, GPE Portfolio Director, said: "We are delighted to have received support for our scheme from Westminster, with whom we have worked very closely over the last two years. Rathbone Place will be one of the West End's most exciting new developments and is one of several projects GPE are working on for delivery over the next few years".

GPE plan to start work on Rathbone Place in 2014 and complete in 2016 with the development providing a major contributor to the regeneration of the East End of Oxford Street, ahead of Crossrail opening in 2018.

GPE acquired the site in November 2011, leasing it back to Royal Mail Group, who vacated in August 2013.