The scheme, designed by HTA Architects, will transform the area and forms a key part of the council’s South Acton masterplan.
The new development will provide 10,915 sq ft of purpose-built industrial workspace alongside 140 new homes.
The plans were updated, to those of the original planning submission, following objections from local residents and subsequent extensive consultation with the London Borough of Ealing, local stakeholders and residents.
All homes now meet new national space standards, have dual aspect to enhance wellbeing, while residential blocks are upgraded to the latest fire safety standards through dual stair cores as a means of access and escape.
Ian Rickwood, Chief Executive, Henley Investment Management, said: “We are pleased to have secured the green light to proceed with the development which will provide much needed new homes and employment opportunities to the local community.
“This important milestone is the result of extensive consultation with the council and local stakeholders and our development team looks forward to maintaining these close relationships moving forward.”