Developer Oakmayne Properties has received resolution to grant planning permission for the £70m Oakmayne Plaza at Elephant & Castle in London.

The scheme will feature three towers comprising 216 residential homes, a 214-bedroom hotel, a five-screen arts cinema, offices, restaurants and retail units.

The existing market square, situated below ground by the Elephant & castle roundabout, will relocate to the Oakmayne Plaza. PKS is the architect. McBains Cooper is advising as a consultant. Work is scheduled to start early next year and completion is planned for 2009.