Plans will replace three outdated office buildings with a 35-storey residential tower of 490 homes and 4,000 sq m of Grade A workspace in a separate five-floor block.

Wider pavements, new planting and trees, improved lighting, seating and active frontages will create a greener, more welcoming and accessible environment around the site, improving connections with the surrounding neighbourhood.

Damien Sharkey, Managing Director at HUB, said: “This decision is a major step forward for our ultra-urban co-living strategy, and reinforces our conviction that this type of housing can be transformational for central London.

“Finsgate House presents a significant opportunity to transform an underperforming and prominent site into something of value to new and existing communities. It will deliver 490 co-living homes and tangible public benefits, in an area of the capital where the current housing offer is limited and demand is extremely high.

“Throughout the design process we have worked closely with local stakeholders to ensure the scheme responds to the priorities of the neighbourhood, so we are proud to have our plans approved by Hackney Council. We look forward to working with our partners to bring this exciting new chapter for Finsgate House forward.”