Bluemantle has sold a 13-acre site with consent for 130 units in Red House Lane, Disley to Persimmon Homes for in excess of £8m.
Paul Stewart of Bluemantle said: "We are pleased to have secured this deal with Persimmon Homes particularly since, together with Cheshire East and the local Parish Council, we had worked so hard over the last few years to transform this previously tired industrial estate into an exciting residential scheme."
Mark Caldwell, CEO of Bluemantle, said: "This is the second deal with have secured with a North West house builder in the last few months and another positive move for Bluemantle. We are now actively moving forward with new residential projects and other major mixed use schemes and the market should expect further significant announcements from us soon."
Timothy Pegg, land director designate of Persimmon Homes North West, said: "The location of Disley, close to breathtaking countryside and with direct rail access to Manchester, makes this an attractive addition to the Persimmon Homes' land portfolio. We will shortly be submitting a reserve matters planning application for this flagship development, and we are hopeful that work can commence on site early next year.
"This acquisition is one of a number of investments currently being made by Persimmon Homes North West as we continue to deliver good value quality homes across the region."
The current tenant, Fibrestar Drums will relocate to more suitable premises as part of the process.
Manchester-based HOW Planning and architects GA Studio advised Bluemantle.