Bexley Council has waved through proposals to develop the site at 235 and 237 Broadway, the site of a charity shop and former HSBC branch.
The two-storey building will be knocked down and replaced by a five-storey block.
In total, 15 flats will be created in the new development, with a shop remaining on the ground floor.
There will be six single-bedroom flats, seven flats with two bedrooms and two flats with three bedrooms.
The HSBC branch at 235 Broadway shut in 2021 after the lease expired, and number 237 remains the Greenwich & Bexley Community Hospice shop.
Planning documents say: “The proposed design aims to complement the existing high street context by referencing similar materials and design proportions of the surrounding buildings in addition to the existing building it proposes to replace.”
A four-storey block for the site was previously approved by the council in 2023.
But the developer said it had decided to increase the height of the building due to a new development opposite having been built as a five-storey block.
