Menta plans to build a residential-led mixed-use scheme.

The developer has secured part of the funding from the Royal Bank of Scotland and hopes to get planning consent by early 2009.

The scheme, designed by Ken Shuttleworth's Make, comprises four towers between two and 45 storeys with 1,042 homes, 500,000 sq ft of offices and retail space and a public square.

There will be a link to East Croydon station, a new station plaza and a transport interchange for a time when Network Rail confirms its plans to redevelop the station.

Its section 106 commitments include affordable homes above Royal Mail's new sorting office on the site of Cherryfield Meat Packers Yard, and a sports facility on the rooftop.