Vendor Ascot Group has exchanged contracts with housing group Sovini for a five-acre Bootle site, formerly the European headquarters of the dry cleaning group.
Sovini last month submitted its plans for a fully affordable 123-home development on the site, working with architect Condy Lothouse.
Ascot, the Liverpool property company headed by Terry Riley, purchased the land in 2017 as part of its land promotion strategy.
Empty since 2007, the Stanley Road site is surrounded on all sides by housing. The only remaining building is to be demolished, should consent be granted for the scheme.
Plans for the site include 38 one-bedroom apartments, 26 of them affordable rent-to-buy, and 39 two-bedroom apartments, 19 of which will be affordable rent, and 20 rent-to-buy.
The development will also include 28 two-bedroom and 18 three-bedroom houses.
An Ascot spokesperson said: “We have a proud heritage of being involved in developments which support social housing and infrastructure for over three decades.
“We proudly promote the work being done by the Sovini Group in this key zone in North Liverpool, which has been in acute need of investment and support.”
“We look forward to seeing this Stanley Road development’s contribution to the regeneration of the Bootle district, and we know that Sovini Group will do an outstanding job.”
Ascot said that it is also on the hunt for development sites in Leeds, Birmingham, Manchester and London.