The iconic Tolworth Tower complex will be redeveloped by CNM Estates, advised by Indigo Planning, after it was given the green light by the Royal Borough of Kingston upon Thames.
As part of the wider regeneration of Tolworth town centre, the £300m project will transform the existing, largely vacant, office tower block and its surrounding complex, creating a total of 308 new homes as part of a mixed use redevelopment.
Wahid Samady, Chairman CNM Estates, said: "We have been working closely with the council, GLA, TFL and local stakeholders to ensure that our proposals re-establish this iconic building as the 21st century hub for the area, which we hope will support the growth and regeneration of Tolworth - an area with huge potential."
The 22-storey Tolworth Tower will be partly converted from office space to offer 108 new homes plus 68 serviced apartments, with the remaining office accommodation, comprising 52,959 sq ft, will be upgraded.
Four new buildings, ranging from five to 19 storeys, will also be constructed to the front of the site, delivering 200 new homes, including 10 Starter Homes, and 1,000 sq m (10,764 sq ft) of high-quality retail space along the Broadway.
Tania Tindale, Regional Director, Indigo Planning, said: "These plans are set to give this iconic landmark and its surrounding area a new purpose, transforming it from an under-occupied commercial building into a prime part of the town centre and delivering an exciting mixed-use development that will create a vibrant Tolworth town centre. It will breathe a new lease of life in to the area and provide improved facilities, new jobs, homes, investment and public spaces that will benefit Tolworth's new and existing residents and businesses."
The new homes are in addition to the 78 apartments which are being converted through Permitted Development Rights within the North Tower, elsewhere on the site. The existing Marks & Spencer Food Hall and Travelodge in the same location will be retained.
The redevelopment will also include the creation of a new public realm, including an urban park and pedestrian- and cycle-friendly routes.