The £1.5bn regeneration of Silvertown Quays has got the green light from the London Borough of Newham today.

The scheme’s developer Silvertown Quays Ltd has completed legal and funding agreements and secured a £119m funding from Bank of Scotland Corporate enabling the council to give the final approval for the redevelopment of the 60 acre site (24ha) into a 5.3m sq ft (494,020 sq m) mixed use scheme.

The development, in the Royal Victoria Docks area of East London, will include 5,000 new homes, 83,959 sq ft (7,800 sq m) of office space, community facilities, restaurants and bars and a aquarium called Biota! Built by KUD International with the Zoological Society of London (ZSL).