The Skipton House office block, located between the tube station and London South Bank University, will be demolished to make way for the office and residential complex, which will boast sky gardens.

The emerging plans for the London Road site will double the existing office space to over 500,000 sq ft and deliver 450 homes.

Designed by Skidmore, Owings and Merrill, the scheme will provide significant public realm and open space including improvements to local cycling routes.

Geoffrey Springer, head of development at London & Regional said: “We are proposing a significant investment in the regeneration of Elephant & Castle, which will celebrate the area’s cultural heritage.

“This will be an iconic development, providing new cultural and community space and, most importantly, new jobs and homes. The development will also deliver new open space and a vastly improved public realm, strengthening the ongoing regeneration of Elephant and Castle.”