The investment arm of insurer Prudential is working with QMile Group on the former goods yard next to Haymarket Station, which it purchased last June.

The sale for £49.1m came with planning permission for three Grade A office buildings totalling 350,000 sq ft, provision for 40,000 sq ft of retail and leisure space, a 190-room hotel and a 172-room aparthotel.

However, the developer has now submitted a proposal of application notice for the redevelopment of the site comprising of ‘hotels, offices, retail, leisure, public houses, restaurants, car parking and associated works’.

The developer is holding a public exhibition today at the Hilton Grosvenor Hotel to further discuss its vision for the four-acre mixed used development site.

A spokesman for M&G said: “We can confirm that we are in the early stages of preparing our proposals for the Haymarket development and look forward to sharing them in due course.”

A timeline for construction works and an expected start date are yet to be announced.

Residents are encouraged to go to the Hilton Grosvenor Hotel between 11am-1pm and 2pm-8pm for more information.