The huge scheme, backed by developer City & Provincial, was given the thumbs-up by the planning inspector and the Secretary of State despite opposition from the local authority.
Planning consultant Charles Moran, who oversaw the application, believes the inspector, unlike Merton Council, showed a 'sensible and realistic approach' when considering whether to approve the scheme.
Moran said: 'In coming to their decision the inspector and Secretary of State rightly started by looking at the policy context.
'However, they both concluded that the 'story does not end here' and went on to look at the potential outcomes of the development, which in this instance is investment, regeneration and the provision of much needed jobs and new homes.
'The decision demonstrates the need for decision makers to take a sensible and realistic approach towards development proposals,' he added.