A series of separate consents, representing a total area of 4.5 million sq ft of mixed-use space, mean that the power station project can now move forward towards the construction stage and developer Parkview International intends to let the first construction contracts early in 2007. The move could also mean a resumption of the leasing programme which stalled earlier this year following the departure of two key executives from Parkview.

Parkview president Victor Hwang said: "It has taken us 13 years and an investment of £200m to arrive where we are today. As a foreign investor, it has been somewhat of a revelation to realise that it is not uncommon in Europe for projects of this scale and complexity to take this long to navigate through the planning process."

Parkview said it would continue discussions with a number of potential development partners to see the project through to completion. Ireland's Treasury Holdings is thought to be the leading contender for this role.

At the same time Delancey and Land Securities, owners of the Metro Shopping Centre Fund, are planning a massive mixed-use development on a site next to Clapham Junction station. The fund already owns the Shopstop retail development at the entrance to the station, one of the busiest in Europe, and now they are understood to have commisisoned architects ColladoCollins to draw up plans for the triangular site which is bounded by the station, Falcon Road and St John's Hill.

Preliminary plans are believed to include up to 280,000 sq ft of retail space at the base of three large towers - up to 330 ft in height - housing 450 apartments. In addition a new bus station is proposed. Progress on the scheme will depend on negotiations with Network Rail and the London Borough of Wandsworth.

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