Developers Ballymore and Oxley this week launched its Royal Wharf scheme, a new 3,385-home town centre in East London's Royal Docks.

The new neighbourhood will be developed on a site on the banks of the Thames between Lyle Park and Thames Barrier Park. In addition to the homes, of which 310 will be townhouses, it will have a high street, shops, bars and restaurants, a school, two parks and three pocket parks.

“The Royal Wharf development brings together what we have learned from twenty five years of projects in London," said Ballymore UK managing director John Mulryan in a statement. "It is a superb riverside location, with high quality transport links and the opportunity to create a new neighbourhood for East London," he said.

“Royal Wharf is our first development in London and will transform the Royal Docks area," said Oxley chief executive Ching Chiat Kwong. "It will be a whole new town centre in East London and is one of the biggest residential developments in London. We are very excited to be working with Ballymore and benefiting from their long history of successful developments in London.”

Work on the site has already begun and the first homes are expected to be ready for occupation in 2016, with the full scheme scheduled to complete in 2020.