More than 1600 new homes have been approved for Old Kent Road in June – the latest for the area set for major high-rise redevelopment and the Bakerloo Line extension.

This includes the 11-tower Malt Street development, with buildings from five to 44 storeys high.

It will see 1,300 new flats, 40 per cent of which – or 520 – will be affordable, while 25 per cent will be social rented.

It also includes affordable retail space and contributions to the new Linear Park.

A development on Verney Road was also approved by the planning committee this month by four votes to three, with one abstention.

The development will see 18, 19 and 24-storey buildings with 338 homes.

Of these, 112 will be for affordable rent, 79 will be for social rent and 33 will be for intermediate rent.

Cabinet member for growth, development and planning, Cllr Johnson Situ, said the council was pushing developers to build the maximum amount of social housing.

He said: “The vision for the Old Kent Road is to build on its unique creative character, a place where industry can thrive alongside new homes and quality open spaces. We are committed to delivering the social rent and genuinely affordable homes Southwark needs and with the addition of these recent applications, we have already secured over 1,000 social rent homes along the Old Kent Road and we are continuing to push developers to provide as much essential affordable housing as possible, especially at social rents.”

Transport for London is considering extending the Tube line from Elephant and Castle into New Cross Gate via Old Kent Road, but needs to secure funding.

Southwark and Lewisham councils are working with the Mayor and TfL to build a case for the Bakerloo line extension.

Construction could begin as early as 2023 if central government approves plans for the extension and the funding is secured, .