The Royal Borough of Greenwich Planning Board has granted outline planning permission for the revised £8.4bn Greenwich Peninsula development in London, UK.

The approval entitles developers Knight Dragon to construct 13,000 new homes, two new schools, a new North Greenwich transport hub, new community and health facilities, and a new 40,000m² film studio.

Permission has also been received to develop the UK capital’s first cruise terminal at the Greenwich Peninsula.

"It’s one of London’s leading destinations in an extremely attractive location on the river."

The development will take the total to nearly 16,000 of new homes at the Peninsula, of which around 4,000 will be affordable.

Claimed to be ‘the largest single regeneration project the capital has ever seen’, it will involve the demolition and complete rebuild of the North Greenwich tube and bus station, aimed to increase its bus capacity.

Around 60,000m² of new business space, 24,000m² of new retail/food/drink space, one or potentially two new hotels and a 20,000m² visitor attraction are also part of the regeneration scheme.

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The plan also includes provision for constructing a new 5km running track around the whole site.

Greenwich Peninsula is already home to the O2 Arena, which is the most successful entertainment venue worldwide.

Royal Borough of Greenwich cabinet member for regeneration and transport Danny Thorpe said: "It’s one of London’s leading destinations in an extremely attractive location on the river.

"The council has long held a vision to make the most of the huge potential offered by the Peninsula and it’s brilliant that this paves the way for that potential to be fully realised."