Work is to start on the construction of a 5-star Hilton hotel on a site bounded by Great Suffolk Street, Price's Street and Bear Lane.
Splendid Hotels Group received planning permission two years ago to build a 196-room Holiday Inn hotel – aimed at the conference market – and a 134-room Staybridge Suites apart-hotel.
Since then the developer's plans have changed and the hotel will now be run under the Hilton brand.
Since permission was granted the site has remained vacant although it has frequently been used as a base for film units.
Recently signs appeared on the walls around the site announcing that work is to start on the construction of the Hllton Bankside hotel.
Last month Southwark Council gave the go-ahead for a 128-room Premier Inn just a few yards away at the corner of Great Suffolk Street and Lavington Street. An 'affordable luxury' citizenM hotel is also planned for the other end of Lavington Street.