London Ambulance Service confirmed that one man in his 50s has been taken to Royal London Hospital suffering from burns and smoke inhalation.
Chris Symes, 30, lives in the neighbouring flat and rushed home from work after getting a call from his roommate.
He said: "I don't know what caused it, I'm pretty sure no one lives in the next door flat.
"Downstairs is a joinery with a sort of lumber yard out the back.
"It looks devastating, never seen a fire like it."
"It was terrifying. It was terrible the flames were huge, huge, when the roof came down there was a hell of a noise I ran in, I was terrified. We were all outside watching it."
The London Fire Brigade confirmed that 72 firefighters from 10 different stations were dealing with the blaze in Yorkton Street.
A spokeswoman added: "Thick black smoke can be seen for miles around and residents are advised to keep doors and windows closed."
The cause of the fire is not yet known.
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