Under the terms of the deal A2 Dominion will pay £95m for the Brooklands College site land plus delivery of 350 homes, £29.7m of this is for the land.
Inland Partnerships, the fast-growing construction arm of the group set up two years ago, will deliver the build phase on behalf of A2 Dominion.
Expected to take four years, the homes will range from one-to-five storeys. There will also be 65,000 sq ft of commercial space, a hair and beauty academy building together with improved infrastructures.
As part of the transaction, the commercial space will be transferred back to Inland for a nominal sum once construction is complete.
Stephen Wicks, CEO of Inland Homes, said: “This is a major step forward for Inland.
“Not only is it the largest land sale in the group’s history, but it also represents a major build contract for Inland Partnerships, which now has a forward order book of £100m.
“These transactions allow us to recognise land profits while also securing self-funding, cash positive construction contracts that provide a balance to open market speculative housebuilding.
“Inland currently has 550 homes under construction for private sale and this latest partnership contract brings the total number of homes being built for housing associations to over 500.
This deal, together with our pipeline and the supportive market backdrop, gives us confidence that within two years the Inland Group will complete the construction of over 1,000 residential homes per annum.”