Liverpool City Council will oversee the development of the site on behalf of its owner, Peel Waters.

Council leader Liam Robinson said: “This scheme has the potential to transform a disused historic port into a stunning new neighbourhood.

“The creation of thousands of new homes, with supporting community facilities, a new park, cycle lanes, green streets and rain gardens, as well as the new businesses it would attract, will be a phenomenal boost for the economy and environment of the city.

“It would act as a beacon of what housing developments in this country can and should be in the 21st century.”