Lambeth cabinet considers new Waterloo planning policy document

"Waterloo is a key area of growth for us in the borough, a key tourist destination and major provider of jobs," said Cllr Lib Peck, cabinet member for regeneration.

"We've got some very big planning applications that are in various states, big opportunities for development and there are plans for transforming Waterloo Station."

The council carried out a consultation on the Waterloo Supplementary Planning Document back in 2009 but the policy has now been tweaked to bring it up to date.

The document, which will now be subject to further consultation, includes an examination of how the Government's £350 million plan to extend the platforms at Waterloo Station could be accommodated.

It also provides indicative options for high-rise development – up to 20 storeys – above and around the station. The council believes that 10,000 to 20,000 jobs could be created in such buildings but acknowledges that this is "unlikely to come forward until the 2020s".

The draft SPD provides planning guidance for sites including the Hungerford Car Park next to Jubilee Gardens, the Union Jack Club,the Shell Centre and Elizabeth House.

The document also calls for the relocation of Waterloo Bus Garage away from Cornwall Road.

• The draft Waterloo SPD is available on the Lambeth Council website.