An audacious bid to wrap one of the South Bank’s tallest buildings with 60m-high illuminated advertising hoardings has been rejected.

The billboards would have been London’s largest ads, stretching from the ninth to the 27th storey of the Richard Seifert-designed Kings Reach Tower. And, though intended to cash in on the Olympics, would have remained in place until next summer.

Allies & Morrison director Graham Morrison was one of the local residents who wrote to object to plans to drape the posters down all four sides of the building, and welcomed Southwark Council’s decision to throw out the application by developer CIT.

He said: “Southwark would have been selling itself very cheaply. No other borough would have allowed it. It’s an incredibly prominent site by the river and would have set an awful precedent. It would also have sent a signal that Southwark is anyone’s.

Westminster Council also objected to the plans for the tower, formerly home to publisher IPC, and now being renovated by KPF, because of the detrimental impact on views across the river.

Harvey Nichols, owner of the neighbouring Oxo Tower restaurant, argued the billboards would have damaged business since they would be at eye level with diners and form an unwelcome backdrop to wedding photos.