Southwark councillors have approved plans to move Mountview Academy of Theatre Arts to a new home in Peckham.
The planning permission clears the way for the flagship drama school to move from its current premises in Wood Green, north London.
The new venue will include a 200-seat performance space and an 80-seat studio space , 22 teaching studios, music practice rooms, two TV studios and a radio suite.
Mountview has promised that the new building will be open to the public, with rehearsal space for hire as well as performance classes for young people and adults.
Southwark Council cabinet member Mark Williams said: “Peckham’s reputation for creativity and culture has continued to grow and we want to encourage and support this as much as possible, which is why we are delighted to be working with Mountview.”
The new building is due to open in September 2018.