The hosuebuilder plans to build affordable housing on the site in East London
Telford Homes has bought a former London Electricity Board building in east London from Tower Hamlets council for £30.2m.
The housebuilder plans to turn the site close to Bethnal Green tube station into affordable housing with some commercial space.
Subject to planning approval, Telford Homes said it expected to start on site in 2018 with completion earmarked for 2021. The gross development value of the scheme is around £95m.
Jon Di-Stefano, chief executive of Telford Homes, said: “The site adds to our already strong pipeline of high quality developments and we look forward to securing a planning consent and commencing construction as soon as possible next year.”