Grainger has signed a contract to develop a 5.5-acre site in the centre of Newbury, West Berkshire, in a contract worth an estimated £60m.
H&V News understands the development, for which plans have not yet been finalized, are likely to include 250 homes, alongside car parks, retail and office space.
The gross development value is expected to be up to £60m.
Network Rail and West Berkshire are the landowners for the project, which will see the site between the railway station and Market Street transformed.
Grainger is now set to work up plans to develop the site.
Graingers development director David Walters said: “Newbury is one the best connected towns in the South, with substantial future investment committed by Network Rail and a number of significant commercial schemes in the town already delivered.
“We believe there are strong prospects for the future in Newbury and we are delighted to be working with both West Berkshire Council and Network Rail on this important project.”