The Council had granted permission in 2011 for a mixed use redevelopment of the tower, which was previously known as Kings Reach Tower. This included a change of use of the 20 upper floors from offices to homes and an increase in its height by six storeys. The revised application includes a further five storeys, with the extension to comprise a total of 36 new flats.
The full scheme will include 370,000 square feet of office space, 191 luxury flats and 72,000 sq ft retail space around the perimeter and centre of the site.
The scheme last year secured £250 million of funding from a consortium of Middle Eastern financial institutions led by ABC International Bank and Saudi-based Mohamed Al Subeaei & Sons Investment Company.
The tower took its original name from the section of the Thames between Westminster and London Bridge which was granted the name Kings Reach in 1935 for the silver jubilee of George V. The name of the scheme was changed to the South Bank Tower earlier this year.
The joint venture partners said they expect the scheme to be completed by the end of 2015.
