Ballymore, which was behind major London schemes at Embassy Gardens at Nine Elms and London City Island at Canning Town, aims to transform two waterfront sites.

The £600m project will deliver two new neighbourhoods in the south of the Park at Stratford Waterfront, and at Bridgewater Triangle close to UCL’s new campus at UCL East.

At the Stratford Waterfront site, already being developed as a cultural district, the JV aims to build 600 homes of which 35% will be affordable.

Stratford Waterfront site outline consent

At the Bridgewater Triangle site, bounded by Waterworks River, The Greenway and Pudding Mill Allotments, around 575 homes are planned, with half affordable.

The JV hopes to complete the residential development at Stratford Waterfront and Bridgewater Triangle by 2028.

Rosanna Lawes, LLDC Executive Director of Development, said: “We are hugely excited to enter this partnership with Ballymore and to build on what has already been achieved over the last 10 years.

“Ballymore bring great expertise and proven regeneration credentials to help create thriving new communities with well-designed, sustainable homes to meet all needs.”

Group managing director John Mulryan said: “LLDC has been instrumental in creating and attracting some of the biggest cultural and educational names to East Bank.

“We are delighted to be partnering with LLDC, supporting the regeneration and delivery of homes in this special and inspiring destination that puts community and culture at its heart.”