Sort of as described in the video (!). It was one of a number of 'preserved' industrial items that the London Docklands Development Corporation put around in the 1980s, although unlike dockside cranes and suchlike it didn't have a local background. I recall it initially beside the new main road past the Beckton gasworks site, not far from the DLR Beckton depot. A rather remote location, it became appallingly spray-paint graffitied, just around the time the LDDC was wound up and their assets passed to the relevant local authority, in this case Newham, who moved it on to where it is now. It must have had to be completely repainted, especially as I think it was green or black, not bright red.
Stratford was of course a significant railway engineering centre in its past, so the most relevant point in the authority's area for a steam loco, many of which were built nearby - but not this one. When repainted it would have been nice to have used GER blue.