Food and art fanatics have their first chance to visit an outdoor urban oasis in Shoreditch this evening.

The Red Market Pop Up transports visitors through the cultural and culinary delights of East London with free music, art and entertainment.

A summer house, sand pit, table tennis, hammocks and petanque pitches are also planned for the family-friendly festival.

A street art mural will gradually take shape over the summer and two Banksy figures, not seen for five years, will be unveiled for the last time before the space becomes a hotel complex.

A giant screen, made from a steel container, will show Olympic and Paralympic events as well as footage of days gone by in London.

Joint organiser Liam O’Hare said he is “nervous” ahead of this evening’s opening but also “very excited”.

“It was a building site six days ago but we are hoping to deliver a great project for all ages. The town centre isn’t very well served for all ages.”

He explained the 20,000 foot square market is a cultural regeneration project.

“We wanted to do something with a disused site in the middle of the town centre to open it up for free entertainment.

“We believe in cultural regeneration through cultural projects like we are doing here. We are regenerating the area because it’s all squatted. We have taken the bull by the horns and are going forward.”

An exhibition of artwork from children at St Monica’s Catholic Primary School, Hoxton Square, will be displayed on the boundary of the site. “Everybody going through Old Street will see it,” Liam added.

The market is open from 4-11pm today and 5-11pm tomorrow at 288-299 Old St EC1V 9DP. It will reopen on Thursday July 12 (4-11pm), Friday and Saturday July 13-14 (both days from 12-11pm) before opening seven days per week, 12-11pm, from July 19 until September 2.

A full programme of events will be announced at www.redmarketlondon.com/