Islington council has approved plans to revitalise a three-acre estate next to Old Street Roundabout to provide a 316,000 sq ft office-led scheme.
Helical Bar and Crosstree Real Estate Partners plans involve extending and refurbishing 207/211 Old Street, EC1, a trio of buildings for which they paid £60.75m last autumn
Both 207 and 211 Old Street will be extended, with the former re-clad and the latter retaining its facade.
Empire House will be converted for restaurant use at basement level with an office, hotel or private members club above.
A new two-part, three-storey building will provide additional retail space on a disused car park and a new arcade of shops will line a new pedestrian link from Old Street to Baldwin Street.