Swedish furniture retailer Ikea has bought a five-hectare site near the Olympic Park in east London as part of plans to expand its UK residential property business.
The Sugar House Lane site, which currently comprises derelict warehouses, will be redeveloped with 1,500 homes, according to Estates Gazette.
There will also be offices and work space aimed at the creative industry.
The development is not thought to include an Ikea store.
Three years ago, Ikea unveiled a new range of flat-pack timber-framed homes, retailing at £99,000.
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