The mixed-use scheme designed by Buckley Gray Yeoman will transform a three-acre Travis Perkins depot into a new neighbourhood set around a new public park.

It will consist of 120,000 sq ft of workspace across two new buildings, 100 build-to-rent homes and various community facilities, including a creche, pavilion and artists’ studios.

The new homes will comprise a mix of apartments, all available to rent at market or discounted rates. The homes are designed to meet the city’s net-zero carbon ambitions and will be powered by electricity from renewable sources, with no reliance on fossil fuels.

Barry Jessup, chief executive of First Base, said: “We have been working hard with Railpen to create a best-in-class long-term investment that will have very strong environmental credentials, provide excellent health and wellbeing facilities to both our residential and commercial tenants, and create real value for the existing local community.”