Images have been released of five shortlisted designs for a new community area at the Olympic Park.

Decision makers at the Olympic Park Legacy Company (OPLC) whittled down hundreds of entries from firms hoping to have a stake in the transformation of the area once the games are finished.

Situated between the aquatics centre, the stadium and the 2012 gardens, it will consist of a visitor centre, water features, and play facilities.

The OPLC said the space will also host a number of festivals and performances.

The competition was launched in July this year. A panel will now judge the designs with the winner announced next month.

Andrew Altman, chief executive of the OPLC, said: “With millions of people expected to visit the park each year, this will be London’s newest and most exciting public space, welcoming the world to the Queen Elizabeth Olympic Park.

“The OPLC is mobilising plans at pace for the development of the Olympic Park after the 2012 games.

“Plans are more advanced than any previous host Olympic city to deliver an exciting mix of new homes, jobs, leisure and business opportunities.”

It comes after the five designs shortlisted for the north of the Olympic Park were revealed in the previous week.

This will include a playground and a visitor centre with a cafe and seating terrace, along with a large indoor space for community use.