Architect Farrells designed the 262 flats in two towers, of 19 and 10 storeys, which form the final piece of Ruby Triangle scheme.

The project also includes a new public park, private and community amenity space, associated car and cycle parking.

This new residential offer will provide 40% affordable housing, a significant amount of which are three and four bed homes, corresponding to local family housing needs.

Omer Weinberger, Chief Executive of Avanton said: “Avanton is committed to our extensive regeneration plans on Old Kent Road, with a trio of important sites that will bring new homes, amenities and public space to the area.

“We are delighted that Southwark Council has approved our plans for the redevelopment of the former Carpetright site into a new £130m scheme.

Works are planned to begin in early 2021 with completion in late 2022.