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A shortlist of three star architects has been picked to masterplan a 43-acre slice of White City in west London, one of the capital鈥檚 biggest regeneration zones.

The three are British architect Terry Farrell and Partners, US firm Kohn Pedersen Fox and Dutch practice Office of Metropolitan Architecture, which is led by Rem Koolhaas.

The site, which is presently industrial land, could be used for a mixed-use scheme as big as 4 million ft², comprising offices, homes and possibly a hotel and recording studio.

It is understood that the total cost of the project may be greater than 拢1.5bn.

The site is owned by a development consortium, called the White City Partnership, headed by developer Helical Bar, which has been appointed project co-ordinator. The other consortium members are asset manager Morley Fund Management, Marks & Spencer, gas network operator Lattice and the BBC.

A spokesperson for the White City Partnership confirmed the shortlist and said that a masterplanner would be picked in November.

It is understood that the total cost of the project may be greater than 拢1.5bn

She said: 鈥淲e are in the process of selecting a world-class masterplanner to help deliver the collective aspirations for this prominent site.鈥�

Helical Bar鈥檚 site, previously owned by Dairy Crest, lies to the north of a 拢1.5bn shopping centre development planned by fellow developer Chelsfield.

Ken Livingstone鈥檚 London Plan, published this February, identified White City as a key 鈥渙pportunity area鈥� for redevelopment. It suggested the creation of 11,000 jobs and 1200 homes. Some observers have envisaged the site adding to the BBC鈥檚 extensive media operations in the area to create a new 鈥渕edia village鈥�.

White City will become one of London鈥檚 biggest regeneration schemes, ranking alongside the 72-acre redevelopment of King鈥檚 Cross and the 55-acre redevelopment of land at Wembley stadium.