Go-ahead for £1 billion Victoria Transport Interchange regeneration scheme

Plans for a £1 billion retail and office development in central London have been given the go-ahead, in a scheme which could create 8,500 jobs, the city council has revealed.

The Victoria Transport Interchange scheme, one of the largest planning applications received by Westminster City Council, has been granted permission to create more than 200 flats and offices and shops.

The council said the first phase of project, set to begin in autumn next year, will create more than 1,200 jobs whilst demolition and construction is carried out, with a further 7,200 created once the development is completed, initially thought to be in 2017.

Developer Land Securities is also set to work with Transport for London to help upgrade Victoria Station.

A proposal for the development, which extends from Buckingham Palace Road in the west, to Bressenden Place in the north and Victoria Street, had to be revised over fears the height of one of the buildings would destroy the city's skyline.

Councillor Alastair Moss, chairman of the planning and city development committee, said: "This revised scheme will see the much needed regeneration of Victoria without adversely impacting on Westminster's UNESCO World Heritage site, a key concern of the council as we take our role as custodians of our architectural heritage seriously, and create much needed jobs during these difficult times.

"The council has been a long standing advocate of the need to carry out significant changes at Victoria which, with more than 250,000 daily commuters, often feels dreadfully cramped and congested.

"Land Securities have worked incredibly hard with our planners to agree bold new designs fitting for a world class city, and it is clear these proposals will see Victoria radically improved.

"I feel the right balance has been struck in terms of the height and density of the buildings, as well as the variety of residential, office and retail, which also includes a brand new library for the local community and the creation of much needed open space."

The scaled back scheme covers six acres and is made up of six buildings- the tallest of which is now 86 metres, 20m below the height of the tallest building in the area, a spokesperson for Land Securities said.