The announcement made this morning by London Development Agency means that plans to hand over the 764 acre (312 ha) site in the Lower Lea Valley next July, are still on course.

Manny Lewis, Chief Executive of the London Development Agency, said: “Whilst we have been granted the CPO powers, we will continue to negotiate with landowners in an effort to reach agreements. We have already managed to secure 93% of the land through negotiation and the LDA is on course to deliver an incredibly complex project on time.

The LDA has already secured 93% of the land under public control through private negotiation with local property owners and businesses. According to the LDA, 64% of businesses – representing 83% of employees in the zone - have confirmed relocation sites.

In addition to an estimated 9,000 homes planned for the area, three business parks are being built by the LDA in Beckton, Enfield and Leyton for relocations.