The developer has signed an agreement with The City of London Corporation to redevelop three sites over 2 acres fronting onto Shoreditch High Street.

The land has potential for 320,000 sq ft of office, retail and residential accommodation in a mix of new, retained and refurbished buildings.

Under the deal British Land will draw down a development agreement subject to securing revised planning consent on the sites.

Architect AHMM will now work up the scheme.

Tim Roberts, Head of Offices at British Land, said: “With much of our existing development programme completing over the next year, this site further adds to our pipeline. We remain positive about the outlook for development in London and expect this investment to generate good returns for our shareholders.”