Eutopia Homes intends to bring forward proposals early next year for 300 homes on an eight-acre site next to Gloucester railway station.
Purchase of the development site was funded by Chenavari Investment Managers, marking Eutopia Homes鈥� fifth transaction with the company.
It is Eutopia鈥檚 third site purchase from Network Rail, following previous transactions in Exeter.
Eutopia Homes was set up in 2017 by Scott Hammond and has since secured a 拢365m pipeline of mid-market homes for rent and sale in regional cities.
Scott Hammond said: 鈥淩ecent investment by the University of Gloucester for the acquisition of the old Debenhams store for a new campus, along with the city council's recent investment in driving a new cyber hub for the UK in close proximity to Gloucester Council鈥檚 HQ, will bring more employment to the city, which in turn will drive up the demand for high-quality housing.鈥�
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