The £80m-plus scheme will see up to 600 new homes built over the next six years in the Lynnsport and Marsh Lane area.

Half will be for sale on the open market with 200 earmarked for private rent and a further 100 allocated as affordable housing.

Cllr Alistair Beales,  King’s Lynn and West Norfolk council cabinet member for regeneration, said: “We are working in partnership with Norfolk County Council and the Internal Drainage Board to bring forward a new access road and improved drainage which is all part of this exciting development.”

The scheme aims to stimulate housing growth by bringing forward housing development on council owned land which would otherwise not be developed and bring a commercial return for the council helping it to manage funding cuts.

Lovell regional director Tony Tann said: “Alongside new housing for sale, for private rent and affordable homes, it will also bring new community facilities and infrastructure, as well as jobs and training places – including apprenticeships – for local people.”

The appointment of Lovell as the preferred bidder is subject to approval by full council on 30 October.

If approved, initial works on site could begin almost immediately, with work on the first phase of housing due to start in October 2015.