A £40m pedestrian bridge connecting Nine Elms to Pimlico could be the first in the capital to be named after a commercial sponsor.

Last night Wandsworth Council gave the go-ahead for an international competition to take place, challenging a designer to come up with a plan for a new pedestrian and cycle bridge.

Your Local Guardian:

Option 1: Linking the Thames Path to Pimlico Gardens 

The bridge, and other major transport improvements taking place in the area, will be funded by private developers and business rates.

In order to speed up building work and help fund it, the council is considering selling the naming rights. The competition could be launched as soon as winter this year.

Transport for London said the bridge will cost about £40m, carry 9,000 walkers and 9,000 cyclists a day.

The only other sponsored Thames crossing is the Docklands cable car, the Emirates Airline, which is sponsored by the Middle Eastern airline and connects the Greenwich Peninsula to the Royal Docks.

Your Local Guardian:

The Emirates Airline

The bridge will form part of the multi-billion pound regeneration of the area which will see Battersea Power Station turned into flats, the building of a new US Embassy, the northern line extension, thousands of homes, a park and public spaces.

The exact location of the bridge is yet to be confirmed but Transport for London has come up with four locations, two of which the council favour due to their proximity to the US Embassy (option 1 and 2).

Your Local Guardian: Wandsworth Council leader Ravi Govindia: "We cannot absorb costs beyond our control"

Ravi Govindia, council leader and co-chair of the Nine Elms Vauxhall Partnership, said: “The design standard has to be exceptional. 

"It will be a dream commission for the winning architect but to succeed they will have to meet some very unique challenges and expectations. 

Your Local Guardian:

The future: Embassy Gardens in Nine Elms (Picture: Ballymore)

“This bridge has the potential to become a powerful icon for the revival of Nine Elms which will help us bring new life, jobs and homes to this underused part of London.

"It would also help connect communities north of the river with these new opportunities and create a valuable transport link for our growing city.”