Barratt proposes building 650 eco-friendly mixed tenure homes on the 83 hectare site, as well as 70,000 sq ft of commercial space including space for business, leisure and retail.
In January the Homes and Communities Agency (HCA) announced that Barratt was its preferred development partner for the site.
The scheme is reportedly one of the largest housing-led development sites within the M25 and has a gross development value of £250m. Barratt aims to submit a planning application for the scheme within the next year.
Barratt will also be supporting the creation of a masterplan framework for Cane Hill and Coulsdon town centre. The planning application will contain more detail about the proposals for the site and will be developed in conjunction with the masterplan.
Mark Clare, chief executive of Barratt Developments, said: “This is a great example of high quality public sector land being brought to the market and largely developed on the ‘build now pay later’ principle".
