The 10-acre mixed-use scheme on the City’s fringe includes 500 homes, of which 50% will now be affordable, up from 15% in the previous plan submitted three years ago.

Also a landmark office tower has been cut in height from 46 storeys to 29 storeys.

Revised plans for the Shoreditch site have been submitted as an amendment to the existing planning application, following extensive public consultation.

The scheme will also provide 1.4m sq ft of workspace in five buildings, including around 140,000 sq ft of affordable space – one of the largest single contributions of any development in London.

It will also include a high line-style public park sitting on top of restored railway arches, consisting of a series of connected gardens and walkways.

In total, the scheme will now boast over 6 acres of public realm, 25% larger than originally proposed and covering over 50% of the whole site.

Nicola Zech-Behrens, senior development manager, Ballymore, said: “Bishopsgate Goodsyard is a highly challenging site with a large number of constraints but offers an incredible opportunity.

“Our proposals will create an exemplary urban quarter, with a mix of housing types, half of which will be affordable, as well as workspace, shops, cafes and restaurants, exhibition space, a cultural building and a new public park.”

Tony Coughlan, Development Manager at Hammerson, said: “We are excited to bring forward these revisions to our plans, which promote a more sensitive scale of development for this strategically important site. These revisions include a focus on the delivery of a wide range of new workspace opportunities, including one of the largest ever provisions of affordable workspace in London. Our revised proposals will generate thousands of jobs and support local economic growth, creating a vibrant urban quarter that respects the heritage of its location.”