Quintain and joint venture Hong Kong investor Knight Dragon won Greenwich council backing to cut affordable housing from around 38% to 25%.

The provision of affordable housing and its phasing across the main plots on the site threatened the commercial viability of the 14m sq ft regeneration plan.

It also emerged that mayor Boris Johnson’s Greater London Authority has agreed to sell the 11 plots of land on the Peninsula at a lower cost to help kick-start development.

The council’s planning board unanimously supported the proposal and agreed to four of the 11 plots being freed of affordable housing to allow immediate commercial development to help fund future phases of the scheme.

This will allow work at Peninsula Quays to get underway and shift affordable homes closer to the Greenwich Millennium Village.

The Peninsula Quays plan to the south-west of the Dome, envisages a private school, luxury private flats and a four/five star hotel.