Marketed by the Cardiff office of Bruton Knowles, the 8.61 acres of land at St Edeyrns has been bought by Bellway Homes.
Originally split into two parcels, the land will now be used to build much needed housing stock in the Welsh capital with Mike Rees and Lisa Roberts from the commercial property specialists acting on behalf of the Welsh Government and Heron Land.
Lisa said: “At a time when Cardiff and the whole of South Wales needs more new housing, interest was considerable and we’re delighted that the sale has been completed.
“The site is located just to the north of the main A48 Eastern Avenue and bounded to the west by the Pentwyn link road and helped attract bids.
“Forming an extensive area of development that is well served by both the road system and bus network and all those who expressed an interest recognised the excellent potential of the site especially with Cardiff city centre 4.5 miles away and Newport approximately 8 miles.
“Highway improvements will also support the scheme once it comes out of the ground.
“It’s also good to see that land which was rurally challenging is evolving into something that benefits the city and community.
“The development will comprise a mixture of 150 new homes of varying house types for which a high demand is expected.”