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Battersea Power Station has been given the go-ahead with councillors approving planning permissions yesterday.

The proposed redevelopment scheme, designed by Rafael Vinoly, will see the grade II listed building restored and opened up to the public for the first time since it was decommissioned in 1983.

Proposed plans submitted by Real Estate Opportunities also include a pledged of more than 拢200m towards a two station extension of the Northern Line from Kennington.

A tube station is to be located at the power station site with another at Wandsworth Road to serve the eastern part of Nine Elms and surrounding area. The Northern Line extension is key to Wandsworth council鈥檚 plans to regenerate Nine Elms and will help kick start major investment projects throughout the area.

The power station scheme hopes to create more than 3,400 homes and 15,000 job as well as training opportunities across the 40 acre site.

A pedestrian high street and town square are part of the masterplan, with space set aside for new shops, restaurants, bars, cafes, offices, a hotel, cinema and other community uses.

A new section of the Thames Path is to be created along with a five acre riverside park immediately in front on the power station. Other outdoor recreation spaces would be provided as well as cycle paths and pedestrian walkways.

Nick Cuff, Planning application committee chair, said: 鈥淭his scheme would restore one of London鈥檚 most iconic buildings and create thousands of new jobs and homes.

鈥淭he two Northern Line stations will spur on the regeneration of Nine Elms and bring a huge economic windfall to this part of south London. There is still a great deal of work to be done but this is an important step forward and will give the area鈥檚 other major investors the confidence to press ahead with their plans.鈥�

Before work begins the Treasury Holdings will sign a legal agreement pledging more than 拢211m to improving local infrastructure and community services. Around 拢203m of this would go towards extending the Northern Line.

Other transport improvements include new bus services and a new passenger pier to link Nine Elms with riverbus services into central London.

The committee also secured a commitment that works to repair the power station will begin at an early stage of the project and that the building would be structurally secure by the end of 2016, including the complete restoration of the four chimneys.

The powers station scheme consists of four linked planning applications; an outline planning application and three applications for listed building consent. All four were approved by the committee.