The site occupies an area of 80.69 hectares (approximately 199.39 acres) and is located within the boundary of the London Borough of Greenwich.
A Masterplan for the development has been developed comprising the creation of a new mixed-use district, primarily residential in character, with commercial uses and the retention of the Dome as a 26,000 maximum capacity multi-events Arena with entertainment, sports, events and assemblies. The Masterplan aims to create a distinctive urban district that will make a major contribution to London. It establishes a series of integrated, yet distinctive neighbourhoods built around an interconnected network of streets, squares, gardens, open areas and the existing riverside walk.
The site is effectively flat and level, and it is set in a sharp meander of the Thames with a river frontage of approximately 2.5km that includes a Thames riverside walk and cycle routes. It was occupied by one of the principal gasworks in Europe and other industrial processes until the mid 1970s. In the late 1980s, work began on the comprehensive land clearance, remediation and redevelopment of the Peninsula.
The Peninsula is currently dominated by the Dome, its associated structures and hard standing which were built for the Millennium Exhibition. However, many of the buildings and much of the site now lie vacant. The Peninsula has also seen substantial investment in its public transport infrastructure with the opening of the North Greenwich Transport Interchange which encompasses North Greenwich Station and a bus station. The Peninsula is bisected by the A102 and the approaches to the Blackwall Tunnel. To the west of these the site includes the land occupied by the Tunnel Avenue Trading Estate, Blackwall Wharf and the northern part of the Victoria Deep Water Terminal. At the heart of the Peninsula lies Central Park, which was established at the time of the construction of the Dome. Within this park stand eight listed Georgian cottages and the Pilot Inn public house.