A developer with millions of pounds to invest in setting up a new boatyard and a vision to boost transport is being sought for a slab of land in the Royal Docks.

Albert Island is the latest site in east London being lined up for redevelopment by the Mayor of London.

Developers are being asked how they would use the plot owned by the Greater London Authority to build marine facilities and create hundreds of new jobs.

Any development would also include industrial space and possibly housing – and would be subject to the winning bidder improving transport links to the Gallions Reach and King George V DLR stations, providing better cycling and walking routes, and upgrading the river frontage.

Richard Blakeway, deputy Mayor of London for housing and land, said: “The development of Albert Island with a new boatyard and marina would provide key maintenance and accommodation facilities for marine traffic, and new employment space that would help bring more skilled jobs to the area.

“It’s a unique opportunity for interested developers and follows recent significant progress to regenerate major sites in the area.”

Mike Luddy, managing director of the Royal Docks Management Authority, said: “Albert Island is the last remaining part of the jigsaw of regeneration in the Royal Docks, and it provides the last link to its history in the marine industry. We think this is a really exciting milestone.”

London Assembly member Richard Tracey, also the Mayor’s ambassador for the river, said: “The development of a boatyard at Albert Island would be a vital step in encouraging greater use of the Thames for industrial and transport purposes.

“Albert Island could provide the much-needed solution for boat traffic which currently has to go as far as Kent to find appropriate facilities.”