The London 2012 Olympic bid committee has released a series of artist’s impressions of the £300m main stadium.

Designed by Spanish architect, Alejandro Zaero-Pollo of Foreign Office Architects, plans for the stadium have taken 15 months to complete and will boast an 80,000-seat capacity and futuristic, diaphanous roof sections.

If London’s bid to host the Olympics is successful, the stadium would be constructed on a 500-acre site in Stratford, east London and would be close to a new international railway station.

The upper tiers of the stadium, which would be prefabricated, could be removed post-Olympics to reduce the facility to a capacity of 30,000. The stadium would then replace Crystal Palace as the new home of British athletics.

The bid committee also intends to build a 17,800-capacity Olympic village within a few hundred metres of the stadium while an aquatic centre, which is due to be completed in mid-2006, regardless of whether London wins the bid, would provide two 50m swimming pools.

It has been estimated that the Games could cost as much as £2.5bn to stage in London, although it is believed that the accompanying tourism and investment boost could create a profit.

The full, 600-page application document from London 2012 will be submitted to the International Olympic Committee (IOC) this week. Details of the full bid will be available to the public from this Friday (19 November).

The other shortlisted cities are New York, Paris, Madrid and Moscow and a final decision on the host city by the IOC will be made in July 2005.

Lord Coe, chair of London 2012, said: “Our futuristic stadium will provide the best natural conditions for the world’s athletes. There is no doubt world records will be set.

“The athletes deserve to be competing in the best facilities on the planet and we will put those in place.

“We aim to end up with the best collection of sports facilities in Europe, maybe anywhere in the world.” Details: www.london2012.org