House builders St. Modwen and Persimmon PLC have entered into a joint venture to develop 2,000 homes on seven sites owned by St. Modwen.
It is expected that the developments, across 48 hectares of land, will take up to five years to complete and have a market value of over £300m.
Further schemes will be added to the joint venture as planning permission is granted.
Bill Oliver, chief executive of St. Modwen, said: "We are very pleased to have reached an agreement to joint venture this land with a sector-leading house builder with whom we can work to accelerate the delivery of quality housing from our portfolio."
St. Modwen specialises in town centre regenerations, including brownfield land renewal and heritage restoration projects.