The mixed-use development called Strand East will also contain offices and a 350 bedroom hotel.

An agreement has been reached with the Olympic Park Legacy Company and a planning application for the 26 acre site is expected to be put to the London Thames Gateway Development Corporation by early next year.

Managing director of LandProp Harald Müller said: “The completion of the land sale agreement with the OPLC allows us to turn this vision into reality and we will now be engaging in public consultation as we develop the plans further.

“I will shortly be announcing an agreement with an internationally renowned hotel operator to run a high quality 350 bedroom hotel.

“We have the highest ambitions for Strand East, the development will be on a human scale with much of the site characterised by low density town houses and mews homes connect by beautiful public spaces consisting of courtyards and squares, making the most of the waterways which surround the site.”

Strand East will be situated between Stratford High Street, the Three Mills Wall River and the River Lea waterways.