The Partnership’s ambitious masterplan for the project has capacity for up to 2,800 homes in a major mixed-use canal-side town centre with a forecast development value of £1.7bn.

The project will involve restoration of an historic canal basin, and a generous mix of retail, including a 130,000 sq ft Sainsbury’s, leisure, community and small business workspace.

As part of this project, a new 130,000 sq ft Sainsbury’s store will provide a fresh, modern approach to trading with increased capacity for home delivery services. The agreement will ensure continuity of trading within the existing store until the day the new store opens.

Sean Mulryan, Chairman of Ballymore, said: “Partnerships like this one show the type of innovative approach needed to tackle London’s housing shortage.

“We are pleased to be a step closer to submitting an application and realising our ambitions of a mixed-use scheme that will transform the area.

“We’ve commenced early consultation with local stakeholders and look forward to hearing directly from local people how they envisage the future site can best suit the needs of the local community”.

Designs from architects AHMM include 72 high-quality homes alongside 14,000sqm of new innovative office space plus a public courtyard and 182-room hotel.

Groveworld’s Senior Development Manager Ross Jacobson said: “This is a significant milestone for an exciting project and our plans to revitalise 330 Gray’s Inn Road have been shaped by an extensive programme of engagement over the last 18 months with the London Borough of Camden and the local community.

“The designs will create an exciting new community that, aside from providing much-needed new homes for the borough, will deliver a mix of open spaces and high-quality facilities our residents and neighbours can enjoy.

“Our hope is that this will become an important site in the Knowledge Quarter as it continues to grow and flourish.”

 The lead architect for the project, AHMM Director Philip Turner added: “We have worked closely with Groveworld and Camden Council since May 2019, to develop an intricate masterplan of five buildings for 330 Gray’s Inn Road.

“The final plans represent an exemplary design that has sought to reflect the historical grain of the King’s Cross Conservation Area, and will offer something for everyone, from open spaces to high-quality leisure facilities and a state-of-the-art lifestyle hotel where new and existing residents will be able to work, relax and socialise with friends and family.”

The application will now be referred to the GLA and Groveworld hope to start works early next year as talks now begin with potential main contractors.

The Blackwall Yard scheme will involve five buildings rising from nine and 39-storeys tall, around a listed graving dock on the north banks of the Thames.

Masterplanned by Glenn Howells, the 1.7ha site will feature 35% affordable homes, as well as a primary school, community hub and 1,500m² commercial and retail spaces spread over the ground and lower levels.

Proposals include creating a direct public connection between the Thames Path and East India DLR.

The old graving dock will also feature an open-air swimming pool.

The historic graving dock will become an amphitheatre-style garden looking across the Thames to the Millennium Dome

Glenn Howells’ partner architects include Panter Hudspith and White Arkitekter with Blue Sky Building on board as project manager and Buro Happold acting as civil, structural and M&E engineer.