The site, off Sutton Benger High Street on the eastern edge of the village, already has outline planning permission from Wiltshire Council for a new 60-home development.
It has been acquired by housebuilder Charles Church and a more detailed planning application outlining the designs and layout of the new estate is expected shortly.
Planning permission for the 8.37-acre site, which sits between Chippenham and the M4, was originally obtained by Gladman Developments earlier this year.
Seb Spiller, managing director of Charles Church Wessex, believes the development will provide “much needed” new homes for the area.
He said: “We’re delighted to have secured this site in Sutton Benger and thank Clarke Willmott, Gladman Developments, and Savills for their support in bringing this forward.
“Sutton Benger is a fantastic location, and this development will help meet local housing needs while respecting the character of the village.
“We look forward to submitting our detailed plans in due course as we seek to deliver a high-quality development for the local community.”