Original plans for the eight acre site in Wandsworth were rejected this summer after being called in by the Secretary of State.

Minerva is now working on scaling down the two main towers which were 32 and 42 storeys high and raised most objections.

The firm confirmed in its annual results today: “The key issues revolved around the two tall buildings proposed and their location within the conservation area and proximity to a nearby gasholder.

“Most of the regenerative benefits created by the scheme were accepted, and will be reincorporated into the next planning application.

“Accordingly, a new scheme is being designed to reflect the Planning Inspector’s and Secretary of State’s comments.  It is expected that a new planning application will be ready for submission during this financial year.”

The original scheme was for over one million sq.ft. of accommodation, comprising approximately 1,000 apartments and 200,000 sq.ft. of retail, restaurant and office space.