Developer Almacantar, alongside Rafael Viñoly Architects, has gained planning permission for a £450m (US$755m, €554m) mixed use development scheme to be built in London’s Marble Arch.

Westminster City Council has approved a bid to demolish the 1967 skyscraper currently standing on the site, with plans to replace it with two new towers, designed by Rafael Viñoly Architects, overlooking Hyde Park.

The first tower – 17 storeys in height – will include residential apartments, shops and an Odeon Cinema covering the ground floor and basement. The tallest of the two towers, tower one will be 10 metres (32 ft) smaller than its 1960’s predecessor.

The second tower will feature mainly commercial office space, with some retail areas covering the lower floors.

In total the development will offer 123,000sq ft (37,490sq m) of flexible office space totalling 36,000sq ft (10,973sq m) of new shop units and 53 private apartments.

Katrin Hersal, spokesperson for Almacantar said: “This development will create two timeless, beautiful buildings which will become a new landmark for the West End.”