Tesco is to build a huge “supermarket suburb” by the Olympic site ahead of the 2012 Games in east London.

The 11-acre site would provide housing for hundreds of families and come with its own high street, primary school, park and library called Idea Store.

A 24-hour Tesco Extra hypermarket will prove the centre point of the site, with 18 other stores that will make up a high street for residents and visitors for the site.

The cost of the scheme, which has two and a half years to be implemented if it is to be open in time for the Games, has not been revealed.

The announcement follows a two-day consultation with residents in the area with feedback “positive”, according to the retailer.

Tesco is likely to submit a formal planning application for the site, which will create at least 200 jobs in the Bromley-by-Bow area, to the London Thames Gateway Development Corporation by the end of this month.

Tesco is to part-build 460 homes in the area with planning permission, described as “costly” by the retailer, pending on them.

The supermarket giant will also create a local park on the bank of the river Lea, as well as a plaza area for residents featuring a 90-bed budget hotel.

The retailer will also buy land and get planning permission for a primary school for hundreds of pupils. The school, next to its store, will be built and run by Tower Hamlets London Borough Council. But again, Tesco may retain freehold of the land.

A spokesman said: “The design of the store, community benefits and the phasing of the development have been designed to meet local needs.”

Concern has been raised that Tesco already has a strong presence in Tower Hamlets, with 10 stores built in the last three years there.

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