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Championship football club Queen鈥檚 Park Rangers has unveiled plans for a new 40,000 seater stadium as part of a major regeneration project in west London鈥檚 Old Oak area.

Architects Sir Terry Farrell, CZWG and Populous as well as consultant EC Harris are workign on the scheme.

Farrell is also working on the wider regeneration plan, which is backed by London mayor Boris Johnson and would cover an area larger than Canary Wharf and boasting 24,000 new homes.

The club is partnering with Stadium Capital Developments, run by entrepreneur Anthony Spencer, who was involved in the development of Arsenal鈥檚 Emirates Stadium.

Spencer said : 鈥淲e envisage a new vibrant, mixed-use and high-quality entertainment and leisure development, which will turn this neglected but tremendously well-connected area into a new world-class city quarter.

鈥淲e are talking to a number of world-class architects to design iconic tall buildings akin to New York, the Far East and London鈥檚 finest, as well as improving and incorporating the waterside environment of the Grand Union Canal. We have assembled a top-class professional team to design tens of thousands of new homes, a 350 bedroom luxury hotel and millions of square feet of entertainment and leisure focused commercial space including: retail, studios and offices, bars and clubs, restaurants, cinemas and other leisure accommodation.鈥�

QPR chairman, Tony Fernandes, said: 鈥淟oftus Road is - and always will be - a special place for the club and our supporters, but we need more than an 18,000 capacity.

鈥淲ith no option of expanding here, we have to look elsewhere and we welcome the Mayor鈥檚 and Hammersmith & Fulham Council鈥檚 commitment to regenerate the area, which includes an option to develop a new stadium at Old Oak as a key catalyst to bring forward redevelopment, cementing our future in this part of West London.

鈥淣ot only will this give us a top quality stadium to cater for QPR鈥檚 needs as the club progresses and grows over the years ahead, but we are very excited about being the driving force behind creating one of the best new urban places in the world.鈥�