Persimmon Homes South Midlands has bought the 42.5-acre site of the former Selly Oak Hospital, Birmingham, and plans a £100m housing scheme.
The site has planning permission for 650 new homes, with a reserved matters application lodged for the first phase of 98 homes.
The site has been redundant since the completion of the Queen Elizabeth Hospital in 2011.
The project will span six to seven years.
DTZ marketed the site, which was unveiled at MIPIM 2014.
Director of residential land agency Iain McArthur said: “This is the largest brownfield residential regeneration site in Birmingham to be marketed and sold within the last 10 years. The gross land value paid by Persimmon Homes demonstrates a record price for land reflecting its premium position situated on the edge of Bournville Village Trust land but also renewed confidence within the development sector.”
Birmingham council cabinet member for development, transport and the economy Tahir Ali said: “I am pleased that this key site in Selly Oak is to be given a new lease of life through this development, which will help close the housing gap in Birmingham, while retaining significant historic buildings. Importantly, this development will include affordable homes, as well as creating much-needed jobs in the city.”
