Greenwich Council has approved plans for a new square in London that will form an integral part of development consortium Meridian Delta’s £5bn Greenwich Peninsula regeneration.

Called Millennium Square and covering 340,000sq m (3.6m sq ft), the space will act as the gateway to the Dome and the surrounding regeneration.

Designed by London architects Barr Gazetas, plans for the new square include a sweeping canopy that will link North Greenwich train station to the Dome entrance, a 56m-tall ‘mast’ installation, a permanent performance stage with video screens plus cafes, restaurants, substantial tree planting and water features.

Millennium Square is intended to become the focal point of the new commercial district on the Peninsula. Equivalent in size to London’s Leicester Square, special events and performances will regularly be staged on the site.

The square will become the first major space to be created within the 190-acre (8.3m sq ft, 768,902sq m) Greenwich Peninsula regeneration masterplan, which was produced by Terry Farrell and Partners and was granted planning consent earlier this year.

Director of Meridian Delta, Bert Martin, said: “Our objective has been to create a contemporary square that acknowledges its unique setting and the dramatic presence of the Dome, as well as the historic context of Greenwich.

“This is another step in the delivery of the comprehensive regeneration of the Greenwich Peninsula – a stunning location integrating new homes, jobs, parkland and community facilities with a new entertainment destination at the Dome.”

Development work on the square will begin immediately and should be completed by spring 2007.

The regeneration of the Greenwich Peninsula is expected to provide 10,000 new homes, employment space for 24,000 people, 33,000 sq m (355,209sq ft) of retail space and extensive community facilities. Details: www.meridiandeltaltd.co.uk