The existing Builder Depot builders’ merchants on the site would be demolished to make way for new housing blocks in Blackburn Road.
Alongside 192 student rooms, a further 35 affordable homes would be built in a second block, expected to be seven storeys tall at its highest point.
Blackburn Road lies within the larger O2 Centre redevelopment site in Finchley Road, where 1,800 new homes have been proposed by developer Landsec.
Landsec has already started construction work on the first 600 homes, following the demolition of the former Homebase.
However, the application for the plot of land closest to West Hampstead station is from a different developer – Fifth State.
Fifth State claims that it will be able to deliver new housing in Blackburn Road three years earlier than originally planned, with construction starting in June 2027.
Outline planning approval for the redevelopment of the O2 Centre has already been granted by Camden Council.
But further permission is needed for Fifth State to deliver their vision for the section of the site nearest to West Hampstead station.
The latest plans would provide ten more affordable homes in Blackburn Road than were set out in the outline plans.
A student block was not included in Landsec’s proposals, but would now take up most of the development put forward by Fifth State.
The student block and the affordable housing block would be linked at ground level.
The builders’ merchants currently operating at the site, Builder Depot, would be incorporated into the new development, where it would transition into a builders’ shop and showroom.
A new café would also be provided on the ground floor of the new student block, which would be built close to the station entrance in West End Lane.
Current designs allow for this café to one day open out onto a new public square outside West Hampstead Tube station.
Transport for London (TfL) plans to open up the existing station entrance and provide step-free access for passengers.
