Under the college funding plan, Carillion will build a major vocational skills centre for mainly construction and catering trades supported by future capital receipts from the sale of over 200 private apartments, affordable housing and a 180-bed hotel in the rest of the scheme.

The new Skills Centre is expected to cost £45m to build, and will also benefit from up to £22m of funding from the London Enterprise Panel.

Simon Eastwood, managing director at Carillion Developments, said: “This is a pioneering project for the UK’s Further Education Sector, which will utilise the expertise of employers, working in partnership with the college, to address skills shortages in sectors such as construction.

Allan Cook, Director of Arlington Real Estate, said: “The regeneration of the Vauxhall site will not only transform the college’s ability to provide world-class training, it will also deliver real benefits to the local community with the provision of additional high quality housing and public realm that is fitting of its place within the wider Nine Elms area.”