The site, which once housed part of Barking Technical College in the 1980s, is one of the first to be released by the Mayor of London, Boris Johnson, as part of his drive to unlock development on public sector owned land.

The Lymington Fields scheme will include 213 homes for private sale by Lovell, 104 homes for affordable rent and 45 homes for shared ownership sale through housing provider Home Group.

Construction work is expected to start at the end of summer for completion by the end of 2017.

All homes will meet Level 4 of the Code for Sustainable Homes incorporating energy-efficient features including photovoltaic solar panels and high efficiency boilers.

John Morgan, chief executive of Morgan Sindall, said: “We are delighted to be working alongside the London Borough of Barking and Dagenham to develop much needed housing in the region.

“We have a strong track record working with government to unlock the value and potential of under-utilised public sector land and we are committed to delivering urban renewal in partnership with councils and local authorities.”