The joint venture project between Manhattan Loft Corporation and Chatham Works was given the green light last night by Hackney council.

Two seven storey buildings will replace temporary structures currently home to several fashion brands in Hackney Central in what has been hailed as the first of its kind in an inner city location.

Work to build the hub, which will include a “stitching academy” offering apprenticeships and training opportunities, will begin next year.

Harry Handelsman, chief executive of Manhattan Loft Corporation said: “We are delighted that these visionary plans have been granted permission.

“We can now start delivering the plans that will create a new fashion destination that will provide new jobs in the area and extra footfall to existing local shops.”

Around £2m from the Greater London Authority’s post-riot fund is being ploughed into the scheme designed by architects Adjaye Associates.

Mayor of London Boris Johnson said: “This is part of an exciting wider economic regeneration of Hackney which will completely revamp the high street, and create hundreds of jobs and training opportunities for local people.”