Savills Chelmsford has agreed the sale of four plots of land covering 39.2 acres, clearing the way for 465 new homes on the outskirts of Ipswich.
The site at Henley Gate was bought by housebuilder Persimmon.
The land forms part of a larger 192.7-acre scheme with outline planning permission for a mixed-use development, including up to 1,100 homes.
Savills Chelmsford acted as joint agents with Ceres Property, on behalf of Crest Nicholson.
Tom Higgins, associate in the development team at Savills Chelmsford, said: “The development represents an exciting opportunity to deliver sustainable growth in the shape of high-quality residential and community uses in a prime location and will significantly contribute to the supply of much-needed new homes in Ipswich and the surrounding area.
“We had strong interest from a number of parties, however from the outset, Persimmon demonstrated a capacity to meet the requirements of the site owners and we look forward to seeing how their plans progress.”
Persimmon is expected to submit a planning application for the final details of the scheme early next year.
Stacy Brett, deputy managing director for Persimmon Homes Suffolk, said: “We are keen to deliver these new homes for Ipswich, our first in the town for several years, and meet the growing need locally.
“This site is located in a key area of growth for the town and will offer a range of homes designed for first-time buyers, growing families and those looking to downsize, as well as offering a selection of homes for below market rent and shared ownership.
“Crest Nicholson has done an excellent job with placemaking and ensuring Henley Gate is an attractive place to live. We are excited to play our part in delivering on this vision.”
