Self-storage firm Big Yellow today said it has secured planning permission to develop its Battersea site.
The company said the project will create a new 72,000 square feet (sq ft) Big Yellow store, 168 flats and 18,500 sq ft of offices, retail space and artists’ studios.
Big Yellow currently operates a smaller shop on the site, which will be demolished early next year after customers have been relocated.
The construction project is expected to begin next summer, with the new larger store opening in 2020.
The firm said it will consider its options for the rest of the site, including selling it to make way for more residential, retail and office space.
Chief executive James Gibson said: "This was a large and complex proposal in planning terms and success gives us considerable confidence in tackling other projects closer to the centre of London as and when opportunities arise."
The planning permission comes as Big Yellow embarks on an aggressive expansion strategy after reporting a seven per cent increase in revenue for the six months to the end of September.
The group currently operates 97 sites across the UK, with construction underway on new sites in Manchester and Camberwell.