One of the largest housing sites in Milton Keynes, Buckinghamshire, has been bought by development venture Making Places for 2,500 homes.

The organisation, a joint venture between housing association Places for People and brownfield land specialist Cofton Group, spent more than £150m on the Brooklands site to the east of the city centre, next to the M1.

The site has outline planning permission for a mixed-use housing-led development for which Making Places will sell plots to individual developers. The first development will start by the end of next year.

Places for People will offer management services for the site, as well as building all the affordable housing and some of the homes for private sale.

David Shaw, group director of development at Places for People, said the acquisition took the year-old venture's landholdings to more than 12,500 housing plots.