The scheme will transform the two-acre site by Wandsworth Bridge on the north bank of the Thames to provide a 55,000 sq ft logistics facility.

Cargo boats will bring goods up the River Thames to dock in the scheme’s newly operational ground-floor wharf, enabling them to be sustainably distributed across London. The planning application includes a new jetty to improve capacity for handling waterborne cargo.

Alongside an operational wharf, the site will be transformed into a cluster of six to 17-storey residential buildings with 276 apartments.

Ian Rickwood, Chief Executive, Henley Investment Management, said: “The redevelopment of Albert and Swedish Wharf is a truly unique opportunity to bring this site back into positive use.

“Not only does it provide much needed housing for London but also an operational wharf for last mile logistics, where demand remains high and having a site like this is incredibly rare.

“The River Thames has huge untapped potential for handling light freight and utilising the river more will help ease congestion and reduce pollution across London.

“This scheme is a prime example of how underused brownfield land can be repurposed to help meet housing need in London. The development will completely transform this part of the riverfront and the continuation of the Thames Path will create riverside access for new residents and the existing community.”