The Eastern Yards phase consists of five buildings ranging from seven to 34 storeys tall. These will deliver 550,000 sq ft of the 1.4m sq ft Bankside Yards site by the Thames.

The latest approval for the former site of Sampson House paves the way for 341 new homes, a 5-star, 126-bed hotel, together with office space.

Planned 5-star hotel

Alasdair Nicholls, chief executive of Native Land, said: “This new planning consent will create a true mixed-use development which brings London together, with new east-west pedestrian routes, multiple transport links, a new village high street in the arches and new town square for Bankside, overlooking the river.”

The entire Bankside Yards project received planning consent in 2014 for homes, offices, restaurants, cultural uses and open space in a 5.5-acre riverside estate in central London, set around 14 historic railway arches.

Multiplex won the first phase at Bankside Yards, known as Western Yards, which started last year with McGee extending its demolition contract to the basement and concrete core for the initial 230,000 sq ft offices project, known as the Arbor.

This initial phase also includes a 240-home apartment building and 49,500 of independent retail, restaurant, cultural and amenity space in the restored railway arches.