Vistry has exchanged contracts to buy a residential development site in Hookwood, Surrey, close to Gatwick.
The site has outline planning permission for up to 446 homes, with 45% set as affordable.
Plans include a new community facility of up to 1,500 square metres and large areas of open space.
The company expects work to start in 2026, subject to reserved matters planning permission from Mole Valley District Council.
The first homes should be available in early summer 2027.
Alex Jordan, managing director at Vistry South East, said: “Hookwood is a fantastic opportunity to deliver much-needed, sustainable new homes in a highly accessible location close to Gatwick.
“We are delighted to have reached this important milestone and look forward to working with our partners and the local community to create a thriving new neighbourhood, with high-quality homes, significant affordable housing, and a new community facility at its heart.”
