The Royal Borough of Kingston have given British Land and Universities Superannuation Scheme Ltd (USS) planning approval for the £400m regeneration of Eden Walk, Kingston.
The proposed scheme will regenerate part of the historic market town by creating 28 new retail units, 12 restaurants and cafes, 380 new homes, with 10% being starter homes, 35,000 sq ft of office space, a boutique cinema and new pedestrian routes and large public spaces.
The proposed development will create an estimated 600 additional jobs for local people and create a substantial increase in retail and leisure spend in Kingston.
Leader of Kingston Council, Councillor Kevin Davis, said: "We're immensely excited to see the redevelopment of Eden Walk move a step closer. To grow and prosper, the borough needs high quality and carefully considered schemes like this one and the fact that Kingston is able to attract such significant investment, is a huge vote of confidence in the future direction of the borough.
"Eden Walk is a key component in our plans to revitalise and future-proof our town centre, and follows on from the restoration of our Ancient Market Place and riverside improvements. Once completed Eden Walk will offer an attractive blend of retail, leisure and living space that is in-keeping with the character of our royal borough, and furthers our ambitions to make Kingston the dominant retail destination in south west London."
Eden Walk is surrounded by Kingston University with more than 23,000 students, the College and theatre.