Findel has sold a surplus site of 5.9 acres in Accrington to house builder Persimmon Homes.
The land north of Accrington town centre in a predominantly residential area of the town Hambledon Mill was identified by Findel as a surplus site and planning consent was gained in 2011 to develop the site into 91 units and two business units.
Persimmon intends to start development in early 2015 with a residential development which will benefit from proximity to Accrington Cricket Club and Accrington Stanley FC.
Trevor Dawson & Dove Haigh Phillips advised on the deal. Michael Cavannagh, partner at Trevor Dawson, said: "This site when redeveloped will provide good quality residential properties located in an attractive area of Accrington close to many local amenities whilst also providing excellent access to the town centre and M65 motorway."
Findel closed at the site last month and consolidated into other facilities in the town.