Haringey Council has confirmed it has signed a deal with developer Grainger PLC for the revamp of Apex House.

The building will be transformed alongside the neighbouring Wards Corner market, which Grainger will also develop.

More than 300 homes for affordable rent and private sale will be built.

The council agreed to sell the building directly to Grainger, rather than putting it on the open market, in a cabinet meeting in July.

In a cabinet report, officers said there are “significant benefits to Grainger handling both the Wards Corner and Apex sites”, adding “the redevelopment of Apex House will begin the desired environmental and economic transformation of Seven Sisters".

The council said it will discuss the possibility of opening up the ground floor of the redeveloped Apex House to the market traders.

Recently unveiled plans from the developer show that it plans to build 39 per cent affordable homes in the Apex site and none in the Wards Corner site.

The cabinet agreed to work with Grainger on issuing Compulsory Purchase Orders to enable it to buy any land it had not been able to obtain amicably.

Councillor Alan Strickland, cabinet member for regeneration and housing, said  the new deal with Apex was “exciting”.

He said:  “These plans offer us the opportunity to improve Seven Sisters and bring in quality new housing and shops while preserving and enhancing the area’s existing identity.

“Taken together with our vision for improved transport and further new housing, these plans represent a tremendous future for Tottenham.”

David Walters, Development Director at Grainger plc said: “The acquisition of Apex House demonstrates Grainger's on-going commitment to Seven Sisters and the council's vision for significant investment into the local area. 

“With Victoria and Mainline Services, and a possible Crossrail 2 station and Housing Zone, Seven Sisters is an exciting location and this investment will further encourage more people to live, work and shop in Tottenham for the benefit of the local community.

“We are currently preparing design ideas for Apex House and look forward to discussing these with local community groups, businesses and residents over the coming months.”