The vast mixed-use scheme, south the Thames in Rotherhithe, ranks as the London developer’s most ambitious scheme over the next 10 years.

This morning the firm revealed plans were progressing for the 46 acre site as it unveiled a 7% rise in underlying profit for the year to £390m.

British Land is working closely with the London Borough of Southwark, the Greater London Authority, Transport for London on the scheme.

Plans will include 2m sq ft of workspace and 1m sq ft of retail and leisure space alongside educational and cultural uses and up to 3,500 new homes.

These will include a mix of affordable and market priced housing as well as a more targeted provision, including student accommodation.

Chris Grigg, chief executive, said: “Our active programme of engagement with the local community and other stakeholders includes our fourth public consultation which started earlier this month and we are targeting submission of a planning application around the end of the financial year.

“We will evaluate phasing of the project and potential funding structures as we move closer to securing planning.”