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Malawian property tycoon Asif Aziz has finally won a years-long battle to build a mosque and an Islamic centre in London's famed Trocadero building, according to reports.

The three-storey prayer room and Islamic centre, which will be named the "Piccadilly Prayer Space", will reportedly have a capacity of 390 worshippers, The Mail on Sunday reported.

The iconic building is located between Piccadilly Circus and Soho, one of the key entertainment and leisure locations in the British capital. It has hosted restaurants, exhibition spaces and even the unsuccessful SegaWorld London entertainment complex.

The Trocadero features an impressive interior, with Arthurian murals, and an imposing baroque facade, although the site has remained dormant since 2011.

Asif Aziz made plans in 2020 to convert the building into a 1,000-capacity mosque but was forced to withdraw the bid following complaints from residents.

NowÌýthe property tycoon has new plans for a mosque at the site which is again attracting the attention of ´Ú²¹°ù-°ù¾±²µ³ó³ÙÌýfigures including Britain First leader Paul Golding.Ìý

The billionaire property developer obtained planning permission to convert parts of the famous complex in May this year, a Westminster Council spokesperson to the British tabloid on Sunday.

Reports said that the mosque and Islamic centre are expected to be inaugurated in a few months through the businessman's charitable foundation, the Aziz Foundation.

Aziz said he intends for the complex to serve Muslims working and residing in the area, as well as tourists.

The billionaire tycoon, who owns a property portfolio worth more than £2 billion, bought the complex back in 2005 for over £220 million ($287.7 million).

Malawi-born Aziz is also the founder and CEO of private property company Criterion Capital and has previously founded and owned food manufacturing companies in Angola.

The Trocadero complex in London was first built as a restaurant in 1896 but closed in 1965. Years later, in 1984, the building reopened as an entertainment complex and exhibition space.

London is home to a significant Muslim community, making up 15 percent of the population, attracting many more Muslim tourists, including from the Gulf, during the summer months.