Approval was this week given for Multiplex to construct a landmark 43-storey residential tower at Elephant & Castle.

The tower, which will be 147 metres tall, will form a crucial part of Southwark council’s £1.5 billion regeneration plans for the South London area.

A second project also received approval this week. The mixed use scheme will include a hotel, a five-screen arts cinema, 219 homes, restaurants and shops.

The council reports that the two projects represented a combined investment of around £200 million.

The large-scale commercial and residential development is set to comprise of 5,000 new homes, up to 800,000 sq ft of retail and leisure space and more than one million sq ft of offices and public space.