Lambeth Council has approved plans for the demolition of The Florence Nightingale and the construction on the site of a 19 storey building that will provide student accommodation, work space and leisure facilities.
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Cllr Jackie Meldrum, Deputy Leader of the council, said: "This is exactly the type of mixed development we welcome in the borough that creates jobs, housing and affordable space for small start-up companies
"The redevelopment of this rundown and neglected site will benefit local residents, entrepreneurs and help boost Waterloo as a major location for higher education."
Further plans for the site which will see the demolition of an empty 1960s office block, York House and some railway arches, include a swimming pool that will be available free to local schools, extensive landscaping and improved pedestrian areas.
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