Months of planning and consultation has gone into the proposals, which were given the green light by the planning committee on Thursday 23rd April 2015.

Two separate applications were given the go-ahead, one for the first development site to the south-west of the estate, bordering Burgess Park, and one for the outline masterplan for the remainder.

Throughout the planning process, those who know the area best – the residents, Creation Trust and Southwark Council – have been instrumental in developing the plans.

Kate Davies, chief executive of Notting Hill Housing, said: “Everybody at Notting Hill Housing is thrilled that we have been granted planning permission for the Aylesbury estate project.

“The Council, local residents, the Creation Trust and our staff team on the ground have all worked terribly hard in order to get us to this milestone. It has taken a lot of trust, understanding, collaboration, and vision to get here. We are very excited that redevelopment can now commence.”

Cllr Mark Williams, Southwark Council’s cabinet member for regeneration, planning and transport, added: “This is an important step to delivering this vital regeneration programme for the people of the Aylesbury Estate.

“The regeneration is all about improving the lives of the people who live on the estate, with new homes, better open spaces and community facilities. Half of all new homes will be affordable – higher than any other similar scheme in London, and we are working with Notting Hill Housing so Aylesbury residents can stay in the local area.

"In addition we are building more three and four-bedroomed homes for families and some of the new homes will be Extra Care or for more vulnerable members of our community, so we really are providing homes for everyone.

“We are also doing all we can to help leaseholders stay in the area, particularly through shared equity, so that they can also benefit from the regeneration of the estate.

“The current blocks are reaching the end of their life span and refurbishment would cost hundreds of millions of pounds, with leaseholders in particular facing major work charges that would be at least six figures.”

The first development site will see 830 homes built, including specialist housing for older people and homes for people with learning disabilities, as well as a community facility and extensive new public open space including two new parks.

Phases two, three and four of the regeneration come under the outline masterplan permission. This will see 2,745 homes built, as well as the creation of office space, retail units, a new public square with a health centre and early years care, and more public open space, such as pocket parks and playgrounds.

Of the new homes, 50 per cent will be affordable homes, of which 75 per cent will be available at target rents for the next 250 years. The remaining 25 per cent will be for shared ownership or shared equity.

The Section 106 agreement will be signed by the end of July, with demolition work due to begin in the autumn.