A new museum and university campus are set to come to Stratford after planning permission for the scheme was approved.

The Mayor of London's Office has given the nod for four key buildings and up to 600 homes to be built as part of the East Bank scheme in Queen Elizabeth Olympic Park.

These buildings, which form the Stratford Waterfront section of the project, will include a new campus for the London College of Fashion that can accommodate 6,500 students.

The site will also feature the Victoria and Albert Museum, including a partnership with the Smithsonian Institute, Sadler's Wells dance theatre and the BBC Symphony Orchestra.

The East Bank scheme will be spread across three sites in the park and once complete, is predicted to attract 1.5 million visitors a year.

The other sites are UCL East - a university campus in the south of the park - and the V&A collection and research centre, situated at Here East.

Deputy mayor Joanne McCartney, who considered the application, said: "East Bank is central to the mayor's vision of creating a powerhouse for artistic excellence, learning, research, performance and exhibitions on the site of the London 2012 Olympic and Paralympic Games.

"It represents a unique prospect for London that is almost unparalleled on the international stage.

"This project will touch the lives of everyone visiting, living and working in and around the park - so I am delighted to have granted planning permission."

Lyn Garner, chief executive of the London Legacy Development Corporation, added: "This is a huge milestone for the project and testament to the hard work, and commitment of all those involved.

"East Bank will be the glue that binds together the different elements on the park from world-class visitor attractions, high-tech business districts, thousands of new homes and wonderful parkland and open spaces.

"Now, with planning permission in place for the biggest and most exciting culture and education project for a generation, we can start to deliver on the promises for jobs, skills and homes for east London."

Construction work on the Stratford Waterfront buildings is expected to begin this year.