The proposal, a joint venture between Berkeley Group’s developer St William and National Grid, would include 201 affordable homes for local residents to buy or rent at a reduced price.

The four gasholders, which neighbour the world famous Battersea Power Station, were decommissioned in 2013 and demolition is already well underway.

Alison Dowsett, Managing Director of St William, said: “This will open a former industrial site up for the first time in over 150 years and create a fantastic new place for the borough.”

Designed by Squire and Partners, the master plan consists of 12 buildings ranging from seven to 26 storeys in height and a new public square.

The mixed-use scheme would provide just over 50,000 sq ft of new education or office floorspace.

Vacant possession is due in spring 2016 with construction scheduled to start on site soon after. First occupations are scheduled for 2019.

The disused gasworks occupies a key position between Battersea Park and the new town centre now being built at Battersea Power Station.

The developer is set to make a £30m contribution to the cost of extending the Northern Line to this part of Battersea as well as a range of improvements to local community services.

A further £4m is being provided for improvements to neighbouring Battersea Park Station, including a second entrance and new lifts.