The refurbishment will provide 288 new homes and an iconic feature for Croydon’s skyline by introducing a ‘stepping’ effect to vary the height of the tower blocks.

Charlie Walker, Director at Legal & General Property, said:  “We believe that not only will this scheme deliver much needed high quality residential accommodation to the very centre of town, but should bring a new lease of life to the area by significantly improving the public realm, creating a more accessible and attractive civic space for residents and visitors to enjoy.”

Councillor Jason Perry, Cabinet member for planning, regeneration and transport, said: “This exciting plan matches the council’s vision for transforming the town centre into a place to live as well to work, shop and socialise.

“It is a significant leap forward in the council’s strategy for regenerating the town centre, refreshing its 1960s streetscape and boosting the economic growth of the borough.

“Legal & General and our planners have worked extremely hard and efficiently to bring this from proposal to approval in just a few months. It’s proof that Croydon is a place to do business.”

CBRE is acting as Legal & General Property’s adviser on the scheme.