Allied Irish Bank has sold 17 acres in Tytherington, north of Macclesfield to Ainscough Strategic Land for an undisclosed sum.
The site has existing consent for a hotel and offices. ASL said it plans to build 165 family houses ranging from two to five bedrooms and a quota of subsidised units.
The company expects to submit a planning application for outline consent on the site once all the results of public consultation are in and the views of stakeholders have been analysed.
Paul Martin, land director of Ainscough Strategic Land, said: "Land of this quality, so close to Prestbury and Bollington on the northern edge of Macclesfield, is an exciting and attractive proposition. The site promises to be one of the most prestigious sites in the North West and I fully expect, in due course, to see keen interest in the site from the full range of house builders."
Ainscough Strategic Land, based in Leigh, was established in October 2007, following the sale of Ainscough Crane Hire by Martin Ainscough.
The company owns 760 acres of land capable of delivering 5,000 houses and 400,000 sq ft of commercial space.