The Crossrail over-site development at Paddington station has been granted panning permission by Westminster City Council.
The 320,000 sq ft development located at the junction of Bishop's Bridge Road and the Grand Union Canal will be a 15-storey high office building with retail and office entrance at canal level.
Kay Buxton, Chief Executive, Paddington Waterside Partnership, said: "Paddington is one of the fastest growing commercial and residential areas in the capital. Crossrail will deliver improved and direct transport connections with London's other major employment centres, smashing journey times to the City to nine minutes and to Canary Wharf to just 16 minutes, reinforcing Paddington as a major national and international transport hub. This development not only enhances Paddington's position as an important business location, it also delivers the desired integration with neighbouring development schemes at Paddington, including Merchant Square, North Wharf Road and Paddington Central. Improved pedestrian access to the Grand Union Canal and a spectacular waterside public realm treatment will see this high quality scheme complement the rich heritage of its setting."
Crossrail intends to appoint development partners for the scheme which provides for considerable public realm improvements at the front of the new Tube station and along to London Street and St Mary's Hospital, as well as providing a new public lift and staircase from the canal towpath up to Bishop's Bridge Road.
Ian Lindsay, Crossrail Land and Property Director said: "Crossrail is the first UK rail project to integrate new and improved rail infrastructure with high-quality over-site development and public realm improvements. This development will be a huge boost to regeneration in the area and a further phase in the renaissance of Paddington as a major commercial location."