Lambeth Council has paved the way for the redevelopment of the old Waterloo Library building in Lower Marsh by selecting Conran & Partners to draw up plans for the site.
In the meantime Lambeth Council has spent £30,000 turning the single-storey former library building in Lower Marsh into a business incubator called Granby Space which is expected to operate for two years.
Now the council has prepared the way for the long-term redevelopment of the sought-after site near Waterloo Station by awarding a £124,500 contract to architects Conran & Partners to work up a planning application.
Lambeth officers say they were impressed by Conran's "imaginative and creative high-level concept design" and "strong proposals for the creation of social value".
Founded by Sir Terence Conran, the Conran & Partners firm is based in Shad Thames.