The wholly owned subsidiary of Peel Land and Property said the flats and town houses will form part of a £200 million masterplan for the site over the next 15 years.

Incorporating a range of commercial, retail and leisure uses, the ADF Architects masterplan will include a riverfront walkway, cinema, pedestrian footbridge as well as a range of bars and restaurants.

It aims to regenerate and transform former industrial sites on dockland, canal and river banks into attractive and sustainable waterfront living locations that will bring new infrastructure, public realm and environmental improvements.

Peel’s director of residential development, Neil Baumber, who was appointed in 2015 to co-ordinate and manage the procurement of these development partnerships said: “The ‘Strategic Waters’ sites give us a fantastic portfolio of locations to develop exciting new residential dwellings. This is all about regenerating urban areas, where there is a shortage of housing, into attractive waterfront locations where young professionals, families, downsizers and key workers can live.

“These units will be a mixture of tenure from institutional and individual PRS to open market sale.”

The proposal follows the submission of plans for a 13 storey student residential tower at Scotway House.